1. Blockchain: A New Era of Technology

The revolution with technologies happens very often; one such technology is called “blockchain” which will be a game-changer in many functional sectors of the society. Initially, this technology was developed to support cryptocurrencies (such as Bitcoin, Ethereum, and Litecoin). Blockchain is just a growing list of records that are termed as blocks that are linked using cryptographic algorithms. Every block in the Blockchain contains a hash of the previous block with timestamp along with the data. The rapid growth of web and usage of Internet resources have pervaded Blockchain over a broad range of applications which includes finance, healthcare, agriculture, insurance, government, and manufacturing with potential advantages contributing to society. This chapter is for educators, practitioners, and professionals who want an overview of Blockchain technology and provides insights of understanding of Blockchain technology and its impact on economy. This chapter walks through foundation of Blockchain technology by highlighting its development history, Blockchain framework, challenges, and so on. Finally, the future of Blockchain in industrial applications along with some case studies is discussed.