In this research paper, based on a systematic review of the latest research in the field of applying new technologies in business, the emergence and evolution, characteristics, as well as advantages and disadvantages of blockchain technology will be presented. Given its relevance, importance and the fact that blockchain technology changes the way we store and transfer data, without intermediaries and with maximum security, research papers on this topic are highly desirable. The goal is to contribute to a better understanding and approach to understanding blockchain technology and to explore the main obstacles to its widespread application. The research will consider the development phases, types, trends and future and perspectives of blockchain technology. In this sense, research in practice will include an analysis of the possibilities of applying blockchain technology based on the responses received from the questionnaire, and the level of user awareness of the effects of applying this new sophisticated technology will be determined. Blockchain technology is based on DLT technology, i.e. it is a decentralized distributed database in which transactions are stored permanently and unchangeably. In addition to the above, the paper will provide basic guidelines for a better understanding of the types of blockchain technology on which cryptocurrencies function. The paper applies a combined research methodology, while for the purposes of the research, based on previous works, a questionnaire was adapted and created from which, through statistical analysis, answers to the research questions are provided.