The Reality of Blockchain Technology for the Digital Business World

The emergence of blockchain technology was driven by the purpose of transforming the current world as we know it. Its fundamental principles of enhancing transparency, security, immutability, efficiency, and decentralization have brought numerous benefits to various fields, including digital business, which has led to improved sustainability and reduced transaction costs. The present article aims to investigate the relevance of this technology to the digital business sector, with the aid of a systematic literature review. One of the key advantages of blockchain technology lies in its ability to provide companies with digitalization aspirations of various benefits. For instance, it can ensure the security of business transactions and significantly reduce the number of stakeholders involved in such transactions, thereby leading to reduced associated costs.