Since its inception, the application of the blockchain has already increased a lot of expectations from every industry and it also promises to be more prevalent in most innovative technologies. It has a lot to offer in terms of immutability, security, cryptography, distributed ledgers, and so on. We should not ignore the fact that blockchain can solve specific issues with immutability, transparency, anonymity, and security. However, it has its own challenges as well, for example, the speed of a consensus required, the time required to arrive at a consensus, and the replication time across the public ledger.