Blockchain technology is gaining traction with every passing day. It can be defined as transaction management system that manages distributed and decentralized ledger. This technology guarantees secure processing, sharing, and management of sensitive data. Exponential growth in this domain has opened immense research opportunities for the researcher community. The aim of this chapter is therefore to enhance our understanding regarding both the concept and existence of blockchain technology in emerging technologies. In addition to outlining its extensive benefits and applications, this discussion provides an in-depth analysis of the challenges it entails.