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The Framework for Blockchain Innovation and the Impact on Digital Economic Transformation

The Framework for Blockchain Innovation and the Impact on Digital Economic Transformation

Yousef Alabbasi, Kamaljeet Sandhu
Copyright: © 2019 |Volume: 10 |Issue: 4 |Pages: 12
ISSN: 1947-8305|EISSN: 1947-8313|EISBN13: 9781522565895|DOI: 10.4018/IJIDE.2019100104
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MLA

Alabbasi, Yousef, and Kamaljeet Sandhu. "The Framework for Blockchain Innovation and the Impact on Digital Economic Transformation." IJIDE vol.10, no.4 2019: pp.44-55. http://doi.org/10.4018/IJIDE.2019100104

APA

Alabbasi, Y. & Sandhu, K. (2019). The Framework for Blockchain Innovation and the Impact on Digital Economic Transformation. International Journal of Innovation in the Digital Economy (IJIDE), 10(4), 44-55. http://doi.org/10.4018/IJIDE.2019100104

Chicago

Alabbasi, Yousef, and Kamaljeet Sandhu. "The Framework for Blockchain Innovation and the Impact on Digital Economic Transformation," International Journal of Innovation in the Digital Economy (IJIDE) 10, no.4: 44-55. http://doi.org/10.4018/IJIDE.2019100104

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Abstract

Blockchain technology has become an epidemic and significant decision that organizations may make in the next few years, as integrated business solution enabling institutions to integrate business functions, operations, and processes in a decentralized distributed ledger technology. This technology will transform the business world and economy in solving the limitations created by centralization and system inefficiency. Accordingly, with the highly demanding and complexity of growing economies such as Gulf Cooperation Council GCC countries, the need for a typical solution technology is a game changer. The result of this will lead GCC to a solid base of the economy. Blockchain technology can be applicable in many different fields such as: banking, education, health care, finance, government, trade, etc. This article will propose a conceptual framework for the acceptance of Blockchain technology and innovation in the GCC, particularly in Saudi Arabia. Also, more research can be conducted in the future as the system might be integrated in these countries.

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