The Application of Blockchain Technology in the Global Economy: A SWOT Analysis and Strategic Recommendations
Research Article
Open Access
CC BY

The Application of Blockchain Technology in the Global Economy: A SWOT Analysis and Strategic Recommendations

Siyuan Wang 1*
1 Heilongjiang University of Science and Technology
*Corresponding author: wsynov3@zohomail.cn
Published on 28 October 2025
Journal Cover
AEMPS Vol.234
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-80590-487-8
ISBN (Online): 978-1-80590-488-5
Download Cover

Abstract

Blockchain technology is reshaping economic activities globally, with significant potential across healthcare, finance, and supply chain management. Despite regulatory and adoption challenges, it is a disruptive innovation. According to IDC's "2021 V1 Global Blockchain Spending Guide," the global blockchain market is projected to reach $18.95 billion by 2024, with a CAGR of approximately 48.0% during 2020-2024. This study explores the current application status of blockchain technology in the global economy. It integrates SWOT analysis models with case studies and market reports to examine the strengths, weaknesses, opportunities, and challenges of blockchain technology. Based on economic competition theories such as effective competition theory and Porter's competitive theory, the research analyzes how blockchain can gain advantages in intense market competition. It identifies potential opportunities in the global blockchain market over the next five years from technology, industry, and application scenario perspectives. The study provides a holistic assessment of blockchain's application status, offering valuable insights for policymakers and entrepreneurs.

Keywords:

Blockchain, Opportunities, Challenges, Global Economy, SWOT

View PDF
Wang,S. (2025). The Application of Blockchain Technology in the Global Economy: A SWOT Analysis and Strategic Recommendations. Advances in Economics, Management and Political Sciences,234,8-13.

References

[1]. Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. Retrieved from https: //bitcoin.org/bitcoin.pdf

[2]. Buterin, V. (2014). A next-generation smart contract and decentralized application platform. Ethereum white paper. Retrieved from https: //ethereum.org/en/whitepaper/

[3]. Poon, J., & Buterin, V. (2017). Plasma: Scalable autonomous smart contracts. Ethereum. Retrieved from https: //plasma.io/

[4]. Szabo, N. (1997). The idea of smart contracts. Nick Szabo's papers and concise tutorials. Retrieved from http: //www.nickszabo.com/writing/smart_contracts_idea.htm

[5]. Wood, G. (2014). Ethereum: A secure decentralised generalised transaction ledger. Ethereum yellow paper. Retrieved from https: //ethereum.github.io/yellowpaper/paper.pdf

[6]. Ripple. (2025). RippleNet: The global network for instant, cross-border payments. Retrieved from https: //ripple.com/ripplenet/

[7]. Yonatan, S., & Sompolinsky, Y. (2013). Ghost protocol. Retrieved from https: //arxiv.org/abs/1311.0243

[8]. Sompolinsky, Y., & Zohar, A. (2015). Secure high-rate transaction processing in Bitcoin. Financial Cryptography and Data Security.

[9]. Pompella, M., & Matousek, R. (2021). Palgrave handbook of financial technology and blockchain. Palgrave Macmillan.

[10]. Zhang, F., Cecchetti, E., Croman, K., Decker, C., Eyal, I., Gencer, A. E., ... & Sirer, E. G. (2019). Town Crier: An authenticated data feed for smart contracts. In Proceedings of the 2016 ACM SIGSAC Conference on Computer and Communications Security. Retrieved from https: //www.usenix.org/conferences

References

[1]. Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. Retrieved from https: //bitcoin.org/bitcoin.pdf

[2]. Buterin, V. (2014). A next-generation smart contract and decentralized application platform. Ethereum white paper. Retrieved from https: //ethereum.org/en/whitepaper/

[3]. Poon, J., & Buterin, V. (2017). Plasma: Scalable autonomous smart contracts. Ethereum. Retrieved from https: //plasma.io/

[4]. Szabo, N. (1997). The idea of smart contracts. Nick Szabo's papers and concise tutorials. Retrieved from http: //www.nickszabo.com/writing/smart_contracts_idea.htm

[5]. Wood, G. (2014). Ethereum: A secure decentralised generalised transaction ledger. Ethereum yellow paper. Retrieved from https: //ethereum.github.io/yellowpaper/paper.pdf

[6]. Ripple. (2025). RippleNet: The global network for instant, cross-border payments. Retrieved from https: //ripple.com/ripplenet/

[7]. Yonatan, S., & Sompolinsky, Y. (2013). Ghost protocol. Retrieved from https: //arxiv.org/abs/1311.0243

[8]. Sompolinsky, Y., & Zohar, A. (2015). Secure high-rate transaction processing in Bitcoin. Financial Cryptography and Data Security.

[9]. Pompella, M., & Matousek, R. (2021). Palgrave handbook of financial technology and blockchain. Palgrave Macmillan.

[10]. Zhang, F., Cecchetti, E., Croman, K., Decker, C., Eyal, I., Gencer, A. E., ... & Sirer, E. G. (2019). Town Crier: An authenticated data feed for smart contracts. In Proceedings of the 2016 ACM SIGSAC Conference on Computer and Communications Security. Retrieved from https: //www.usenix.org/conferences

Cite this article

Wang,S. (2025). The Application of Blockchain Technology in the Global Economy: A SWOT Analysis and Strategic Recommendations. Advances in Economics, Management and Political Sciences,234,8-13.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

About volume

Volume title: Proceedings of ICFTBA 2025 Symposium: Global Trends in Green Financial Innovation and Technology

ISBN: 978-1-80590-487-8(Print) / 978-1-80590-488-5(Online)
Editor: Lukáš Vartiak, Sun Huaping
Conference website: https://www.icftba.org/Beijing.html
Conference date: 20 November 2025
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.234
ISSN: 2754-1169(Print) / 2754-1177(Online)

© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license. Authors who publish this series agree to the following terms:

1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.

2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.

3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open access policy for details).

For authors
For editors
For reviewers

Cookies are used by this site.
Copyright © 2024 EWA Publishing, its licensors, and contributors. All rights reserved, including text and data mining, AI training, and similar technologies.