ISSN 2286-976X (Print)
ISSN 2539-5513 (Online)
RANGSIT JOURNAL OF SOCIAL SCIENCES AND HUMANITIES
RANGSIT JOURNAL OF SOCIAL SCIENCES AND HUMANITIES (RJSH)
Volume 5 Number 2, July - December 2018
Blockchain Infrastructure Acceptance in the Gulf Cooperation Council Countries: An Overview
The technological development across the world has created innovative options that organizations and governments can use to facilitate their processes. The blockchain Infrastructure is one of the recent developments that has been considered by some franchises. The Gulf Cooperation Council (GCC) seeks to foster political and economic status of the Arabian Gulf region. The council considered the blockchain infrastructure to facilitate the connectivity and cooperation between its member states. The approach has been essential in economic development as it can provide a digital interaction. Blockchain is considered as a game changer for the future economies of the Gulf region since it facilitates the use of cryptocurrencies, which have surfaced as futuristic innovation for economic cooperation across the globe. Cryptocurrency is gained more increasing interest as a new type of technology that is potentially leader and destroyer for the payments industry on a global scale. However, there are many different usage scenarios of the cryptocurrency and it is future unclear. This study analyzes the potential of blockchain infrastructure acceptance in the Gulf Cooperation Council countries which considers its applicability to address economic as well developmental concerns of the Gulf region by allowing its member states an open, yet transparent platform of interaction.