Blockchain is a revolutionary technology that has the potential to fundamentally change many industries, which include banking, music and the publishing industry. This report will zoom in on the potential of blockchain to transform scholarly communication and research in general. By describing important initiatives in this field, it will highlight how blockchain can touch many critical aspects of scholarly communication, including transparency, trust, reproducibility and credit. Moreover, blockchain could change the role of publishers in the future, and it could have an important role in research beyond scholarly communication. The report shows that blockchain technology has the potential to solve some of the most prominent issues currently facing scholarly communication, such as those around costs, openness, and universal accessibility to scientific information.