The Critical Determinants of Application of Blockchain Technology in Enhancing Cyber security in the Modern Technology Era

Abstract

Blockchain is a framework that joins a unique arrangement of properties to ensure network security, straightforwardness, and perceivability, including a decentralized construction, conveyed records and capacity instrument, agreement convention, brilliant agreements, and uneven encryption. The following six factors—cybersecurity, corruption prevention, e-government advancement, effective governance, political stability, and democratic participation—were put to the test for blockchain adoption. The study demonstrates that political stability, government efficiency, and cybersecurity are important determinants. The possibility that a country will adopt blockchain technology is increased by elevated degrees of cybersecurity and effective government. Ironically, more political stability makes it less likely that blockchain technology will be adopted quickly. The Blockchain Drive filled in as the wellspring of information for blockchain reception, but it is important and crucial to systematically compile information on blockchain efforts throughout the world. Further data collection efforts by international donor organisations are required in order to improve the models for blockchain adoption.