A Comprehensive Review of the Applications of Blockchain Technology

The academia and industry have thoroughly examined the prospective applications of blockchain technology (BCT), particularly in the domains of banking and payment systems. A contemporary development is the utilization of BCT at the enterprise level, wherein it functions as the foundational framework for ensuring internet security and immutability. Consequently, this has led to the emergence of new application areas such as the Industrial Internet of Things (IIoT) and Industry 4.0 (I4.0). This article provides an overview of IIoT and I4.0, as well as the fundamental properties of BCT. Subsequently, the paper delves into the practical applications of BCT in seven key areas, in commercial contexts. Subsequently, an analysis will be conducted to explore the ten emerging domains where BCT is being applied. This article incorporates academic implementations, startups, and real-world implementations to enhance comprehension.