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These studies suggest that blockchain technology enhances transparency and accountability in digital transactions across various fields, including supply chains, accounting, government, and financial markets, though some studies note potential challenges and limitations.
20 papers analyzed
Blockchain technology, a decentralized and immutable digital ledger, has been heralded for its potential to enhance transparency and accountability in various sectors, including digital transactions. This synthesis examines the impact of blockchain technology on ensuring transparency and accountability, drawing insights from multiple research papers.
Enhanced Transparency and Traceability:
Improved Accountability in Financial and Government Sectors:
Challenges and Limitations:
Blockchain technology holds significant promise for enhancing transparency and accountability in digital transactions across various sectors. It offers a transparent and immutable record-keeping system that can reduce transaction costs and improve trust. However, challenges such as non-technical issues and potential limitations in addressing deeper systemic problems must be considered. Overall, while blockchain can greatly enhance transparency and accountability, its full potential will be realized only by addressing these challenges.
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