This paper presents a thorough evaluation as well as a comparative analysis of the application areas and economic impact of Machine Learning (ML) and Blockchain technologies within a cloud environment. The integration of ML and Blockchain has garneredsubstantial attention because of the possibility that they will change a variety of industries and have a significant effect on the economy. In examining the application areas, this review focuses on how ML and Blockchain technologies are being utilized across diverse domains such as finance, healthcare, supply chain, and e-commerce. ML is being employed for data analytics, predictive modeling, and pattern recognition, while Blockchain is utilized for secure and transparent transaction processing, data integrity, and decentralized consensus mechanisms. The economic impact of these technologies is substantial and multifaceted. ML, by enhancing decision-making processes and automating tasks, contributes to increased efficiency, cost reduction, and revenue growth across industries. Moreover, the potential for creating innovative products and services fuels market competitiveness. On the other hand, Blockchain technology fundamentally transforms traditional business models by establishing trust and transparency in transactions. It reduces intermediary costs, minimizes fraud, and facilitates faster and secure transactions, ultimately fostering economic growth and fostering new business opportunities. When combined in a cloud environment, ML and Blockchain synergistically enhance computational capabilities, scalability, and accessibility. Cloud-based deployment of these technologies provides cost-effective solutions, further amplifying their economic impact,the integration of ML and Blockchain technologies within a cloud environment is poised to reshape industries, offering substantial economic benefits. Understanding their diverse applications and economic implications is crucial for organizations seeking to harness the full potential of these transformative technologies.