| Description |
1 online resource (ii, 50 pages) : color illustrations, color maps. |
|
text txt rdacontent |
|
computer c rdamedia |
|
online resource cr rdacarrier |
| Series |
Technology assessment / United States Government Accountability Office |
|
United States. Government Accountability Office.
Technology assessment.
|
| Note |
"March 2022." |
|
"GAO-22-104625." |
| Bibliography |
Includes bibliographical references. |
| Contents |
Introduction. -- 1. Fundamentals of blockchain. -- 1.1 What is blockchain? -- 1.2 How to determine whether a blockchain would be most useful. -- 1.3 Blockchain operation. -- 1.4 Types of blockchains. -- 1.5 Smart contracts. -- 1.6 Consensus protocols. -- 2. Blockchain could enable a variety of non-financial applications, but these applications face challenges. -- 2.1 Risks and challenges. -- 3. Financial blockchain technologies are in use and offer several benefits. -- 3.1 Cryptocurrencies. -- 3.2 Stablecoins. --3.3 Lending and borrowing through decentralized finance. -- 3.4 All blockchain-based financial products face challenges. -- 4. Policy options. -- 5. Agency and expert comments. -- Appendices. |
| Summary |
Economies rely on central authorities and trusted intermediaries to facilitate business transactions. Blockchain is a technology that could reduce the need for such entities while establishing a system of verification. It might therefore improve a variety of financial and non-financial applications. However, the use of blockchain technologies raises a variety of ethical, legal, economic, and social concerns. This report discusses (1) non-financial applications of blockchain, including potential benefits and challenges, (2) financial applications of blockchain, including potential benefits and challenges, and (3) policy options that could help enhance benefits or mitigate challenges of blockchain technologies. GAO is identifying policy options in this report. |
| Note |
Description based on online resource, PDF version; title from cover (GAO, viewed on May 9, 2022). |
| Subject |
Blockchains (Databases) -- Evaluation.
|
|
Electronic commerce.
|
|
Chaînes de blocs -- Évaluation.
|
|
Commerce électronique.
|
|
Electronic commerce
|
| Running Title |
Blockchain technology assessment |
| Added Title |
Emerging technology offers benefits for some applications but faces challenges |
| Gpo Item No. |
0546-D (online) |
| Sudoc No. |
GA 1.13:GAO-22-104625 |
|
