Blockchain in FinTech: A Mapping Study

Fernandez-Vazquez, Simon; Rosillo, Rafael; García, David de la Fuente; Priore, Paolo

doi:10.3390/su11226366

Cited by 51 publications

(55 citation statements)

References 56 publications

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“…10 outlines a roadmap to develop blockchain systems in cross-country basis. It synthesizes earlier work [54], to map concerns [19], pitfalls of regulation, technical/organization aspects.…”

Section: Socio-economic Driversmentioning

confidence: 93%

Innovation and Challenges of Blockchain in Banking: A Scientometric View

Arjun¹,

Suprabha²

2020

IJIMAI

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Blockchain has been gaining focus in research and development for diverse industries in recent years. Nevertheless, innovations that impact to the banking nurture a potential for disruptive impact globally for economic reasons; however it has received less scholarly attention. Hence the effect of blockchain technologies on banking industry is systematically reviewed. The relevant literature is extracted from Scopus, Web of Science and bibliometric techniques are applied. While a bulk of earlier papers focuses only on bit coins, a broader framework is envisaged that synthesizes interdisciplinary thematic areas for advancement; hence novelty in current work. A few practical and theoretical implications for stakeholders in view of technology, law and management are discussed.

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“…10 outlines a roadmap to develop blockchain systems in cross-country basis. It synthesizes earlier work [54], to map concerns [19], pitfalls of regulation, technical/organization aspects.…”

Section: Socio-economic Driversmentioning

confidence: 93%

Innovation and Challenges of Blockchain in Banking: A Scientometric View

Arjun¹,

Suprabha²

2020

IJIMAI

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“…The blockchain permanently maintains transaction records in blocks, and thus, it enhances the transparency and security level of transactions. With such features, the blockchain has drawn attention of researchers who argue that the innovative application of the blockchain may transform supply chain management [8,15] as well as the insurance and finance industries [16][17][18]. Guo and Liang [19] argued that the blockchain may revolutionize traditional banking operations, along with payment systems, by formulating a multicenter and less-intermediated paradigm while blockchain potential in logistics may solve logistics-related issues [20].…”

Section: The Blockchain and Smart Contractsmentioning

confidence: 99%

Blockchain-Enabled Trade Finance Innovation: A Potential Paradigm Shift on Using Letter of Credit

2019

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This paper explores a potential paradigm shift in trade finance utilizing blockchain technology. Traditionally, the centralized operating model has governed trade finance and the manner in which traders handle business processes. However, such heavy reliance on centralized authorities has made for poor performance, the lack of flexibility and transparency, and vulnerability to malicious alteration. The blockchain, as a distributed ledger technology (DLT), has attracted growing attention and has the potential to disrupt legacy finance procedures such as payment by letter of credit (L/C). International trade players may benefit from the technological reengineering of financial processes through the implementation of blockchain- and smart contract-based platforms. From the conceptual perspective of a paradigm shift, this study analyzes the feasibility of blockchain innovation in trade finance through modern blockchain-based L/C initiatives. Moreover, this study also explores blockchain applications in terms of logistics tracking and how it integrates with trade finance procedures. This study contributes to the understanding of a blockchain paradigm shift with a multi-case study. The results may illuminate the potential future application of blockchain finance and provide researchers with an illustrative example of other finance-related capabilities. Studies of trade-related topics such as customs clearances, insurance, and logistics applications need to be addressed in the future to create a comprehensively trustless environment and facilitate the automation of trade.

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“…In addition, the market of blockchain just began and the effects of the patent of blockchain on firms have not been clearly explored [8,27,28]. Although many prior researchers have propounded that many firms try to adopt the blockchain technology for cost saving and gaining sustainable competitive advantages, firms have many upcoming challenges (i.e., security, scalability, legal and regulatory, privacy, latent technology development) in the FinTech industry [12,13,29]. From this perspective, we argue that the patent of blockchain needs to have a more clear approach for understanding the relationship between the patent of blockchain and market uncertainty in real option theory.…”

Section: A Patent Of Blockchain and The Real Options Theorymentioning

confidence: 99%

“…To address the phenomena of increasing patents of blockchain, we explored the prior research that related to firms' patents and firm value. Prior research focused on the value of patents and found that firms' patents are positively associated with the firms' market values in stabilized markets such as software, information technology, the semiconductor industry, and the FinTech industry [9][10][11][12][13]. Although the prior research has propounded the positive relationship between a firm's patents and its value, the patents of blockchain are different in comparison with conventional patents.…”

Section: Introductionmentioning

confidence: 99%

Are the Blockchain-Based Patents Sustainable for Increasing Firm Value?

2020

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Blockchain technology is changing conventional online transaction systems by eliminating payment gateway firms. The blockchain technology is highly attractive and has earned a lot of attention from investors and firms. To protect blockchain technology, firms acquire a patent of blockchain for enhancing the value of their blockchain technology. However, the sustainable value for a patent of blockchain has not been clearly explored. For this reason, our research attempted to explore the relationship between a patent of blockchain and firm value. We used a real options theory and built robust empirical tests based on United State Patents and Trademark Office (USPTO) data. We collected the patents of blockchains from 2014 to 2018 and matched financial data from the Compustat database. In total, we found 153 panel observations. Our results suggest that a firm’s patent of blockchain originality and t-1 lagged effects for a firm’s patent of blockchain generality are positively associated with firm value in general. In addition, the sustainable value for the patent of blockchain affects firms differently based on their industry. We found that the sustainable value for the patent of blockchain originality was positively and exclusively associated with the software industry, while the sustainable value for the patent of blockchain generality was positively and exclusively associated with the hardware industry.

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Blockchain in FinTech: A Mapping Study

Cited by 51 publications

References 56 publications

Innovation and Challenges of Blockchain in Banking: A Scientometric View

Innovation and Challenges of Blockchain in Banking: A Scientometric View

Blockchain-Enabled Trade Finance Innovation: A Potential Paradigm Shift on Using Letter of Credit

Are the Blockchain-Based Patents Sustainable for Increasing Firm Value?

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