Whether you’re a PhD student or an undergrad, the blockchain research topics listed here will offer great insights into the blockchain technologies field. For those who have followed the events happening in the banking, investing, or cryptocurrency over the past one decade, the term blockchain could be familiar.
What is Blockchain?
A blockchain is a continuously expanding collection of digital records, known as blocks, which are connected together via encryption. Blockchains are designed to be immutable and resistant to data alteration. Communities, the decentralized Web, token economies, and worldwide peer-to-peer data transfers are all made possible by blockchain.
Blockchain technology is built on top of a number of different technologies.
A huge number of key criteria influence the success of a blockchain ecosystem. Layer 1 DLT systems like Bitcoin and Ethereum have accomplished a lot, but no one blockchain protocol can remove all of the inherent restrictions. For example, increasing throughput without necessarily jeopardizing security is quite challenging.
Layer 1 blockchain protocols that are secure and efficient must either solve important challenges at the protocol level or allow solutions at a higher level.
Blockchain is the record-keeping technology behind the infamous Bitcoin network. Most importantly, blockchain is a type of database. It differs from typical databases in how it stores information.
Blockchains store data in blocks. Those blocks are then chained to each other. Any new incoming data is stored into a fresh block.
Once a single block is filled with data it is chained onto the previous block, which makes the data chained together in chronological order.
Blockchains store different types of information. Today, storing a ledger for transactions seems to be the most common use of blockchains.
In the case of Bitcoin, blockchain helps in creating a decentralized process so that no single individual has control. Instead, all users have a collective control over their activities.
Without wasting time further, let’s dive into the topics about blockchain.
Blockchain research topics
Even though blockchain technology has seen some great progress in recent years, the field is still ripe for investigations. This section contains a list of chosen research topics, as well as information on current issues and latest events.
Research Topics on Bitcoin and other cryptocurrencies
- The unobvious risks of an unregulated global p2p currency
- Changes in people’s attitudes toward cryptocurrencies.
- How social media influences the prices of cryptocurrencies.
- How to Make Bitcoin a Better Currency
- Evaluating the scalability and security of bitcoin.
- Regulatory responses to cryptocurrencies in the global stage.
- Does cryptocurrency have a place in global economic development?
- The disruption, challenges and opportunities of cryptocurrencies.
- Optimal selfish cryptocurrency mining.
- An Empirical Analysis Leading to a Cost of Production Model for Valuing Bitcoin.
- Examination of the standards for identification on blockchain.
- Issues in designing community currencies based on blockchain.
- Empirical analysis of denial-of-service attacks in the cryptocurrency ecosystems.
- Investigating the potential significance of blockchain in improving transparency in electoral processes across developing democracies.
- Limitation of computational power to the implementation of blockchain technologies.
- Exploring inefficiencies associated with blockchain e.g. speed
Internet crime and security issues facing blockchain
Cryptocurrencies may promote crime and the trade of illegal goods.
For instance, the recent rush by users to obtain bitcoins has raised many questions about the cryptocurrency. There is a strong belief that bitcoin will, in the near future, unleash a great economic potential because it provides a borderless peer-to-peer democratic and self-regulating system.
Despite all these benefits identified in the article, the authors note that blockchain may promote a wide range of illegal activities such as the sale of illegal drugs, illegal weapons, assassinations, unlawful gambling, money laundering, and even outright theft.
Illegal use of blockchain scare away potential new users that otherwise would prevent the rapid growth of cyptoccurencies to surpass the traditional payment methods since no users with good intentions would want to associate with a currency that promotes such unlawful activities.
The following 10 blockchain research topics could be helpful while pursuing your PhD studies:
- The effects of bitcoin regulation on the reduction of drug trafficking.
- Anti-money laundering legislations to prevent, detect and prosecute cryptocurrency-driven money laundering.
- The ease of tracing hacked bitcoins.
- The mainstream adoption of blockchain technology in developing countries.
- Bitcoin mining vulnerability in open computer networks.
- Efforts to achieve full decentralization of blockchain networks in the United States.
- Relationship between metadata of transactions and respect for the privacy of blockchain users.
- Evaluation of current incentive mechanisms on- and off-chain.
- The valuation of different crypto-assets.
- Is it possible to achieve crypto-trading: the exchange of one cryptocurrency for another.
- Bitcoin mining acceleration and quantification of blockchain performance.
Topics on Applications of Blockchain in Banking and finance
Banks tend to be more skeptical about forming deals with bitcoin companies. This is one of the obstacles facing the uptake of bitcoin.
As a result, a hot debate has been triggered whether bitcoin has the potential to become a dominant global currency or it will be wiped out in the next few years.
With the continued growth of the value of bitcoin cryptocurrency, some investors believe that digital currencies will dominate the future. However, bitcoin, a forerunner in becoming a dominant cryptocurrency is faced with several obstacles that must be addressed for it to assert its dominance in the financial world.
Here are a list of 10 blockchain research topics related to banking and finance:
- How has blockchain technology revolutionized banking in Asia?
- Effects of blockchains on the speed of cross-border payments.
- The skepticism of traditional banking institutions about forming partnerships with cryptocurrencies.
- Analysis of IBM’s Food Trust blockchain.
- Potential improvements in speed of banking transactions after integration of blockchain into business operations.
- Settlement and clearance in international stock trading using blockchain.
- Estimation of banking and insurance fee saved through the use of blockchain-based applications.
- The role of blockchain technology in streamlining paperwork and bureaucracy in trade finance.
- The impacts of government sanctions on the adoption of blockchain technologies in their trade finance.
- Tracking the popularity and financial gains associated cryptocurrency scams.
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- The application of cryptocurrencies in blockchain-based crowdfunding.
- How blockchain can lower the cost of meeting regulatory requirements for syndicated lending.
- Contributions of blockchain to transformation of accounting, bookkeeping and audit.
- Smart contracting. There has been significant development in this field, with the goal of identifying the main needs for smart contracts and establishing templates for their creation. In order to make smart contracts safer and more secure, additional research is needed in this field.
Blockchain research topics in Healthcare
In healthcare, the privacy of patients is important. Some personal information health records must remain the health provider’s secret.
To avoid privacy complaints and potential legal implications, some hospitals can apply blockchain technology to secure millions of health records.
Below are some of the blockchain research topics in healthcare that could be valuable for researchers:
- Secure storage of patient medical records by leveraging blockchain technology.
- The use of blockchain to fight drug counterfeiting in the pharmaceutical industry.
- The contribution of blockchain-timestamped protocols to improving the trustworthiness of medical science.
- The application of blockchain to medicine traceability across an individual country.
- How blockchain technologies can reduce health-related follow-up costs.
Blockchain seems to be the future. Its application in many sectors including banking and healthcare are inevitable.
In any case, researchers have identified an ever-rising tidal wave of blockchain powered technologies in finance that show its ability to disrupt the finance industry.
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