Blockchain Adoption Model for the Global Banking Industry

Kawasmi, Zaina; Gyasi, Evans Akwasi; Dadd, Deneise

doi:10.58729/1941-6679.1436

Cited by 14 publications

(3 citation statements)

References 1 publication

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“…In this paper, however, we instead looked at the Policy and Regulatory Frameworks within the country that will govern the adoption and use of blockchain, since the subject of study is the maturity of the financial sector and not the blockchain technology itself. Also, Hassani et al (2008) strongly link the success of blockchain-based KYC of financial institutions to cross-bank policies standardization, with Kawasmi et al (2020) confirming that the lack of such policies and industry standards could seriously hinder the adoption of blockchain technology across the sector. The choice of BCMM for this study is based on the fact that it represents a simple taxonomy of maturity assessment using very few assessable indicators.…”

Section: The Blockchain Maturity Modelmentioning

confidence: 94%

Blockchain Maturity of Ghanaian Financial Institutions and Their Readiness to Adopt Distributed Ledger for KYC Processes

Lempogo

Brown-Acquaye

Agangiba

et al. 2023

International Journal of E-Services and Mobile Applications

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Although information technology has positively influenced operations in the Ghanaian financial sector, there is still a high operational cost in performing KYC procedures due to duplication of efforts during clients' onboarding. The decentralized nature of blockchains makes them ideal for addressing these challenges. In this paper, the blockchain maturity model was used to assess the maturity and readiness of Ghanaian banks to adopt blockchain technology for KYC processes. Using primary data obtained via questionnaires and interviews, the individual components of the blockchain maturity model were assessed. The results indicate that the network, hardware, and software components are at repeatable, defined, and managed stages, respectively, while the people component lags in the initial stage due to a lack of adequate staff training. Finally, security and privacy are at the defined stage, whereas policy and regulations are at the initial stage.

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Section: The Blockchain Maturity Modelmentioning

confidence: 94%

Blockchain Maturity of Ghanaian Financial Institutions and Their Readiness to Adopt Distributed Ledger for KYC Processes

Lempogo

Brown-Acquaye

Agangiba

et al. 2023

International Journal of E-Services and Mobile Applications

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“…The policy uncertainty due to lack of regulatory framework can influence the blockchain adoption (Nguyen and Nguyen, 2023). To facilitate the widespread adoption of blockchain technology, it is necessary to propose appropriate laws or amend existing ones (Kawasmi et al, 2020). To date, to the best of the author's knowledge, studies have not examined the regulatory framework as a predictor variable for technology adoption by using the UTAUT framework.…”

Section: Performance Expectancy (Pe)mentioning

confidence: 99%

Investigating accounting professionals’ intention to adopt blockchain technology

Jena

2024

RAF

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Purpose Blockchain’s potential is so significant that business activities across all industries can be drastically altered. Furthermore, the characteristics of blockchain appear to be well-suited to accounting requirements. However, accounting professionals’ attitude and intention toward blockchain adoption are not clear, particularly in India. Thus, this study aims to investigate and evaluate accountants’ intention to adopt blockchain technology in accounting activities. Design/methodology/approach This study examined and assessed accountants’ intention to use blockchain in accounting. To effectively measure usage intention, this study extended the unified theory of acceptance and use of technology (UTAUT) model by including context-specific constructs. To empirically test and validate the proposed model, data were collected from “369” professional accountants in India. Findings The findings revealed that facilitating conditions, performance expectancy and initial trust had a significant impact on adoption. Furthermore, the regulatory framework materially moderated the association between usage intention and its predictors. Originality/value These findings provide new empirical evidence about the impact of different predictors of usage intention by extending the UTAUT model. Relevant stakeholders can refer to this pioneering study to increase the adoption of blockchain as an efficient and trustworthy system among professional accountants, particularly in developing countries such as India.

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“…Nicholls [5] claims it even possibly improves financial literacy, prevents exploitation of vulnerable consumers, and might close the gap of 2 billion individuals without a bank account. Further, realtime monitoring and auditing, automated financial reporting, and non-compliance detection should improve and thus increase transparency [24].…”

Section: Third Party Service Data Providers In the Open Banking Ecosy...mentioning

confidence: 99%

Third Party Data Service Providers Can Enhance Patient-Provider Interactions: Insights from a Delphi Study

Hashmi

McInnes

Stranieri

et al. 2022

Australasian Computer Science Week 2022

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Data sharing between financial services organisations has led to a proliferation of third party data service providers that are not parties to transactions but facilitate interactions between them by analysing, manipulating or storing data related to transactions. This has led to widespread legal, technological and sociocultural changes in that sector broadly described as Open-Banking initiatives. Third party service providers have not emerged in the healthcare sector in the same way. This study reports preliminary results of a Delphi study comprising healthcare and financial experts to explore the extent to which third party providers in healthcare is beneficial and feasible. Ensuring the quality of data service provided by third parties was seen to be a critical success factor. A causal loop model was used to describe the inter-dependent factors underpinning this factor. Further investigations to augment the model with Consumer Data Rights and validate empirically are underway.

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Blockchain Adoption Model for the Global Banking Industry

Cited by 14 publications

References 1 publication

Blockchain Maturity of Ghanaian Financial Institutions and Their Readiness to Adopt Distributed Ledger for KYC Processes

Blockchain Maturity of Ghanaian Financial Institutions and Their Readiness to Adopt Distributed Ledger for KYC Processes

Investigating accounting professionals’ intention to adopt blockchain technology

Third Party Data Service Providers Can Enhance Patient-Provider Interactions: Insights from a Delphi Study

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