Blockchain Revolution: Examining Decentralized Finance, Healthcare, and NFTs

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Smiksha; Paras Singla; Harsh Kumar Swami

Blockchain Revolution: Examining Decentralized Finance, Healthcare, and NFTs

Authors: Smiksha, Paras Singla, Harsh Kumar Swami

Unique Paper ID: 169612
Volume: 11
Issue: 6
PageNo: 1311-1316

Keywords: Blockchain NFTs Healthcare DeFi Supply Chain

Abstract:
With its decentralized, secure, and transparent so- lutions, blockchain technology has become a disruptive force in a number of industries. Blockchain is a decentralized transaction and data management technology developed first for Bitcoin cryptocurrency[2]. This paper looks at its use in three different areas: Non-fungible tokens (NFTs), Decentralized Finance (DeFi), and Healthcare. Blockchain offers chances to improve supply chain management, clinical trial openness, and electronic health record (EHR) interoperability, data security, and patient privacy. Blockchain facilitates peer-to-peer financial services in the DeFi domain, removing the need for conventional middlemen and encouraging advances in lending, borrowing, and decentralized exchanges. In the meantime, NFTs transform the idea of value and ownership in the digital sphere, especially in the areas of gaming, art, and intellectual property management.There is a wide spectrum of blockchain applications ranging from cryptocurrency, financial services, risk management, internet of things (IoT) to public and social services[1]. This paper summarizes the state of blockchain applications in several fields as of right now, talks about the difficulties they encounter, and emphasizes their capacity to spur innovation in the future. The purpose of this article is to give scholars and other interested parties a thorough review so they may better comprehend and advance blockchain technology’s real-world applications.

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Cite This Article

ISSN: 2349-6002
Volume: 11
Issue: 6
PageNo: 1311-1316

Blockchain Revolution: Examining Decentralized Finance, Healthcare, and NFTs

Available:https://ijirt.org/article?manuscript=169612

Impact Factor
8.01 (Year 2024)

UGC Approved
Journal no 47859

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