Blockchain and smart contracts : Technologies, research issues and applications

This position paper analyzes blockchain technology from a scientific and application-oriented perspective of the Fraunhofer-Gesellschaft. It examines relevant technical aspects and related research questions. This shows that the technology still has fundamental research and development challenges in all areas. These include, for example, the modularization of individual blockchain concepts as well as their combination and integration for application-specific blockchain solutions. The investigation of fields of application and industries that can best benefit from the new technology shows that different properties of the blockchain are relevant for a field of application are. While the automation potential associated with smart contracts is essential for the Internet of Things, it is the irreversibility of the transactions managed for applications in the areas of supply chain, digital media or for guarantees of origin. However, the decisive aspect is that the blockchain is of great relevance for many different areas of application outside of the financial sector and, above all, independent of cryptocurrencies. The paper provides a list of criteria to identify applications that are suitable for using a blockchain. that the blockchain is of great relevance for many different areas of application outside of the financial sector and, above all, independent of cryptocurrencies. The paper provides a list of criteria to identify applications that are suitable for the use of a blockchain. that the blockchain is of great relevance for many different areas of application outside of the financial sector and, above all, independent of cryptocurrencies. The paper provides a list of criteria to identify applications that are suitable for using a blockchain.