This study describes a systematic investigation of blockchain technology and its applications across various domains with main focus on libraries. The concept and working of blockchain technology were discussed with respect to multiple domains to emphasize how the peculiar attribute of this technology can revolutionize “library practices”. Opportunities and Risks of blockchain are also discussed to guide the users of blockchain technology. Based on this study, we tried to aware the library professionals to understand this emerging technology and take some initiation for its application in libraries of their countries.