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Emerging advances of blockchain technology in finance: a content analysis
Date Issued
2023-02
Author(s)
Other authors(s)
Miah, Shah J.
Shao, Xuefeng
Holmesglen Department
Abstract
Blockchain has become a widely used information system technology recently because of its effectiveness as an intermediary-free platform. While the use of blockchain in various fields, such as finance, supply chains, healthcare, education, and energy consumption, is increasingly enabling the development of Internet-enabled “distributed databases,” there are not many exploratory studies available to provide an understanding of how the field is progressing. Therefore, it is imperative to explore the status quo of blockchain technology in the finance sector, particularly highlighting how blockchain architectures can aid the finance sector to gain competitive advantage. This systematic literature review analyzes the content of the 50 most relevant articles and professional industry reports through peer-reviewed relevant academic literature in the finance sector from 2008 to 2022 to identify several possible features of blockchain research in the financial sector. This study highlighted the dimensions of blockchain technology, blockchain in finance, its competitive advantages, the current status of finance, and various challenges that keep the implementation of blockchain-based financial information systems at the initial stage. We identified three main areas that require research attention in order for blockchain technology to become the “next-generation networks” that will revolutionize the financial sector.
Citation
pp. 1-14.
Journal Title
Personal and Ubiquitous Computing
Type
Journal Article
Affiliates
Holmesglen Institute
Holmesglen Faculty
Higher Education and Applied Research
URI
https://hdl.handle.net/20.500.11800/248