Applications of blockchain technology in privacy preserving and data security for real time (data) applications

Abstract

SummaryBlockchain (BC) technology has been incorporated into the infrastructure of different kinds of applications that require transparency, reliability, security, and traceability. However, the BC still has privacy issues because of the possibility of privacy leaks when using publicly accessible transaction information, even with the security features offered by BCs. Specifically, certain BCs are implementing security mechanisms to address data privacy to prevent privacy issues, facilitates attack‐resistant digital data sharing and storage platforms. Hence, this proposed review aims to give a comprehensive overview of BC technology, to shed light on security issues related to BC, and to emphasize the privacy requirements for existing applications. Many proposed BC applications in asset distribution, data security, the financial industry, the Internet of Things, the healthcare sector, and AI have been explored in this article. It presents necessary background knowledge about BC and privacy strategies for obtaining these security features as part of the evaluation. This survey is expected to assist readers in acquiring a complete understanding of BC security and privacy in terms of approaches, ideas, attributes, and systems. Subsequently, the review presents the findings of different BC works, illustrating several efforts that tackled privacy and security issues. Further, the review offers a positive strategy for the previously described integration of BC for security applications, emphasizing its possible significant gaps and potential future development to promote BC research in the future.