Blockchain Technology and Decentralized Applications: CBDC, Healthcare, and Not-for-Profit Organizations

We discuss three applications of blockchain data technology that illustrate its considerable problem-solving potential in: (i) Centralized Bank Digital Currencies (CBDC); (ii) Healthcare (HC); and (iii) Non-Profit Organizations (NPOs). Key solution features include security and immutability, along with authentication in a decentralized network that can yield the same consensus solution as a single centralized computer would. But notwithstanding the strength of blockchain’s security, vulnerabilities in the wider infrastructure of the applications we considered. We discuss real-world vulnerabilities in error correction and smart contract code, and the integration of blockchain data and infrastructure that is essential in day-to-day operation. Further, the decentralization in this (Web 2.0) network infrastructure is, if not the proverbial “bug”, a weakness and decidedly not a feature.