The state of play of blockchain technology in the financial services sector: A systematic literature review |
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| Institution: | 1. University of Electronic Science and Technology of China (School of Management and Economics), Chengdu, 610054, People''s Republic of China;2. Center for West African Studies, University of Electronic Science and Technology of China, Chengdu, 610054, People''s Republic of China;3. C.K. Tedam University of Technology and Applied Sciences (Department of Business and Computing), Navrongo, Ghana;1. MSC05 3090 Anderson School of Management, 1 University of New Mexico, Albuquerque, NM 872014, United States;2. MSC05 3090. Anderson School of Management, 1 University of New Mexico, Albuquerque, NM 872014, United States;3. School of Business and Economics, Universidad del Desarrollo, Av. Plaza 700, Las Condes, Región Metropolitana, Chile;4. Newcastle Business School, Northumbria University, Sutherland Building, 2 Ellison Pl, Newcastle upon Tyne NE1 8ST, United Kingdom |
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| Abstract: | The modern trends of digitalization have completely transformed and reshaped business practices, whole businesses, and even a number of industries. Blockchain technology is believed to be the latest advancement in industries such as the financial sector, where trust is of prime significance. Blockchain technology is a decentralized and coded security system which provides the capability for new digital services and platforms to be created through this emerging technology. This research presents a systematic review of scholarly articles on blockchain technology in the financial sector. We commenced by considering 227 articles and subsequently filtered this list down to 87 articles. From this, we present a classification framework that has three dimensions: blockchain-enabled financial benefits, challenges, and functionality. This research identifies implications for future research and practice within the blockchain paradigm. |
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| Keywords: | Blockchain technology Blockchain benefits Blockchain challenges Blockchain functionality Financial technologies |
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