Blockchain is an open-source technology that makes it possible to record transactions over an ensemble of transparent and safe computing. In contrast to conventional databases that are controlled by a single entity, blockchain functions as a decentralized network in which every user, or node, has the information of the complete ledger. Because every transaction is confirmed by unanimity among the nodes and eternally recorded in blocks connected in a chronological chain, this guarantees that the data is transparent and unchangeable. Every block forms a safe and impenetrable record of all network activity, comprising a list of businesses, a timestamp, and a cryptographic link of the preceding block. Global reports indicate that the global blockchain market value is projected to grow from USD 20.1 billion in 2024 to USD 248.9 billion at a CAGR of 65.5% (Marketsandmarkets Research Private Limited 2024). Industry experts are estimating that the blockchain technology has potential to touch 137.8 billion USD by market size at the end of this decade. Especially, the Asia-Pacific region is leading the way with massive startups from China, Japan, and South Korea who are developing technologies for finance, healthcare, and supply management as the key focus (Hemant 2024).