A use case centric survey of Blockchain: status quo and future directions
Author and article information
Abstract
This paper presents an assessment of blockchain technology based on the Emerging Technology Analysis Canvas (ETAC) to evaluate the drivers and potential outcomes. The ETAC is a framework to critically analyze emerging technologies.
The assessment finds that blockchain can fundamentally transform the world. It is ready for specific applications in use cases such as digital currency, lightweight financial systems, ledgers, provenance, and disintermediation.
However, Blockchain faces significant technical gaps in other use cases and needs at least 5-10 years to come to full fruition in those spaces. Sustaining the current level of effort (e.g. startups, research) for this period of time may be challenging. We also find that the need and merits of decentralized infrastructures compared to centralized and semi-centralized alternatives is not always clear. Given the risk involved and significant potential returns, we recommend a cautiously optimistic approach to blockchain with the focus on concrete use cases.
The primary contributions of this paper are a use case centric categorization of the blockchain, a detailed discussion on challenges faced by those categories, and an assessment of their future.
Cite this as
2019. A use case centric survey of Blockchain: status quo and future directions. PeerJ Preprints 7:e27529v1 https://doi.org/10.7287/peerj.preprints.27529v1Author comment
This work is part of studies looking at emerging technologies using the methodology defined in Emerging Technology Analysis Canvas (ETAC). This paper identifies ten use case categories of blockchain and then examine the impact, feasibility, risks, and future of each category. It is intended to help someone critically evaluating blockchain (e.g., build a system on top of the blockchain, to build a startup).
Sections
Supplemental Information
Emerging Technology Analysis Canvas for Blockchain
Additional Information
Competing Interests
All authors are employed by WSO2 Inc. Frank Leymann is employed by WSO2 & University of Stuttgart.
Author Contributions
Srinath Perera conceived and designed the experiments, performed the experiments, analyzed the data, contributed reagents/materials/analysis tools, prepared figures and/or tables, authored or reviewed drafts of the paper, approved the final draft.
Frank Leymann contributed reagents/materials/analysis tools, authored or reviewed drafts of the paper, approved the final draft.
Paul Fremantle conceived and designed the experiments, contributed reagents/materials/analysis tools, authored or reviewed drafts of the paper, approved the final draft.
Data Deposition
The following information was supplied regarding data availability:
This is a survey and an analysis of blockchain technology, and no code or data is involved.
This is a survey and an analysis of blockchain technology, and no code or data is involved.
Funding
This work is funded by WSO2 Inc. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.
