Book Title: Innovation Interconnected: Exploring the Frontiers of Computing and Communication Technologies
Editors: Dr. M. Germin Nisha and Mr. Albert Prasanna Kumar
ISBN: 978-81-970102-9-3
Chapter: 7
DOI: https://doi.org/10.59646/CompComTechC7/119
Authors: Dr. P. Manjula1 and Dr. D. Poornima2
1Professor, Department of Computer Science & Engineering, Saveetha Institute of Medical and Technical Science, Thandalam, India.
2Assistant Professor, Department of Computer Science & Engineering, Sathyabama Institute of Science and Technology, Chennai, Tamil Nadu, India
Abstract:
This chapter serves as a guide to understanding the transformative potential of blockchain technology for social good. It commences by delineating the traditional data security challenges that have spurred the emergence of blockchain solutions. With a focus on fostering a foundational understanding, the document introduces blockchain technology and elucidates its application in addressing societal challenges under the banner of “Blockchain for Good.” Delving deeper, it explores the core principles of blockchain, emphasizing decentralization, transparency, and immutability, and discusses the pivotal role of smart contracts and cryptographic techniques in fortifying security. Moving forward, practical applications of blockchain in ensuring data security and transparency are expounded upon, encompassing decentralized storage, identity verification, access control, and the preservation of data integrity. Furthermore, the document ventures into the realm of challenges inherent in blockchain technology, such as scalability and privacy concerns, while proposing potential solutions and strategies for navigating regulatory frameworks.