Blockchain for sustainable city transformation: A review on Bangladesh

Abstract

Abstract Blockchain (BCn) revolution across the world leads the global transformation by altering the existing structure and introducing the accessible and decentralized paradigm. This technology facilitates access to resources and redefines conventional frameworks, empowering people and communities globally. Motivated by these attention‐seeking potentiality of BCn features, in this article, we examine the challenges, advancements, and emerging prospects of the BCn revolution in Bangladesh. With a specific focus on BCn implications for sustainability and smart development, this study addresses the urgent need to understand how BCn can facilitate sustainable development in rapidly evolving countries like Bangladesh. The goal of this research is to draw attention to the successful revolution of BCn in the world and use this knowledge to extract best practices and cutting‐edge strategies for sustainable transformation of Bangladesh. The contribution of this study covers the underlying concepts of the BCn technology, showing the revolutionary state of BCn across the world, applications of BCn for sustainability, assessment of its current usage, and highlighting the BCn implementation problems. Furthermore, this study serves as a gateway to a transparent, decentralized future that fosters inclusive national progress and aligns with sustainable development goals. This study also strives to inspire individuals to use this transformational technology for the collective benefit of society by highlighting BCn's potential to empower communities while driving positive change.

Keywords

• blockchain
• e‐Governance
• finance
• fourth industrial revolution
• healthcare
• smart contract