BLOCKCHAIN, A STRATEGIC TECHNOLOGY TO BE ADOPTED BY PUBLIC AND PRIVATE COMPANIES FOR THE BENEFIT OF BRAZILIAN SOCIETY

Abstract

Purpose: Highlight the strategies used by organizations when using blockchain, the problems and difficulties they face, and how the use of blockchain technologies can help public and private Brazilian companies, understanding their concepts and importance. Theoretical Framework: Blockchain technology emerges to allow transactions to be more secure and transparent and is very important for organizations to make their processes more agile. However, to implement it, it is important to use strategies. Design/Methodology/Approach: Important aspects for the implementation and use of blockchain by organizations, challenges, benefits, essentiality, and the need to obtain this knowledge were analyzed, therefore, four public and private Brazilian companies were analyzed, where a bibliographic review was used and, therefore, exploratory research. Findings: Strategies were identified, such as storing and managing data with blockchain and using cryptocurrencies as a form of payment. The challenges to be overcome are usability, scalability, environmental impact, security, and crime. Public and private companies benefit from lower costs, agility, efficiency, shorter transaction times, customer attraction and greater engagement. Research, Practical & Social Implications: The research was relevant, and the objectives were met, the implications identified proved to be beneficial for companies and society. Originality/Value: The use of blockchain by organizations to address problems and increase business scalability is essential, as it brings greater capacity to control operations in an integrated manner with better communication and greater transparency towards society.