The Rise of Blockchain: Industry Analysis and Prediction

Open Access
Author:
Police, Jason Hess
Area of Honors:
Finance
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
  • Brian Spangler Davis, Thesis Supervisor
  • Brian Spangler Davis, Honors Advisor
  • Robert Alexander Novack, Faculty Reader
Keywords:
  • Blockchain
  • Blockchain Technology
  • Finance
Abstract:
Blockchain is the first technology in several decades to attract the current level of excitement around its capabilities and its potential to completely alter business processes. Since its inception in 2009 as the underlying technology for Bitcoin, interest has recently heightened and companies are now attempting to utilize blockchain to combat business use cases in a variety of industries and across many disciplines, including financial services, supply chain and government. However, this technology is still in early developmental stages, as is apparent with its many challenges and lack of successful use cases. This thesis will provide a comprehensive overview of blockchain technology. It will then present a comparison of the current industry’s development to the rise of the Internet. Furthermore, this thesis will identify and analyze the challenges surrounding blockchain technology and its position as the industry develops prior to acceptance and full-scale adoption. Finally, it will also offer a prediction related to the use cases that may experience success in the near future, along with an observation as to why some projects are failing.