Blockchain, A Disruptive Technology in the Sustainable Economic System

Abstract

This chapter aims to provide managers in general and project managers in particular with the basic information about one of the most hyped disruptive technology concept in the shared digital economy today: Blockchain. Blockchain and other disruptive technologies such as Internet of Things (IoT), Artificial Intelligence (AI), and Big Data are important disruptive steps that are increasingly relevant when defining and managing projects in the sharing digital business economy. The chapter comprises three main parts. The first part introduces the basic concept of the disruptive technologies in the digital transformation context and the main blocks required for the build of Blockchain framework. The focus is on describing each block in details applicable for any selected platform. The second part of the chapter outlines the concept of the smart contract. The general aim is to provide knowledge with actionable guidelines on how best to implement a smart contract using the Ethereum platform. All the components for the design, deployment, and implementation of decentralized applications (Dapps) are discussed. The final part discusses the benefits of using smart contract on the Blockchain technology and wraps up by two brief illustrative case studies, enlightening project managers about the Blockchain technology applications in different vertical segments; Life Cycle Assessment (LCA) leading to Environmental Product Declaration (EDA) and energy trading in pursuit of sustainable development.