Blockchain Technology and the Banking Industry

Martino, Pierluigi

doi:10.1007/978-3-030-70970-9_3

Cited by 8 publications

(7 citation statements)

References 19 publications

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“…Blockchain is a distributed peer-to-peer database that solves the double-spending problem of electronic money (Nakomoto, 2008). The advantages of the blockchain technology are decentralization, transparency, immutability, automation and better resilience to attacks (Martino, 2021). Since each of the participants has a full copy of the information the blockchain contains, there is no single point of failure, that is, the system is free from third-party interference, which significantly reduces the time a transaction takes, and the resources spent on the mediation.…”

Section: Research Context Case and Methodsmentioning

confidence: 99%

“…With the development and improvement of the coding language and smart contracts, it has become possible to create decentralized applications of almost any purpose such as insurance, mortgage, healthcare, records management, which itself has a vast number of applications (Raj, 2021). One of the major applications of blockchain are cryptocurrencies—digital money mined to maintain the distributed network (Martino, 2021).…”

Section: Research Context Case and Methodsmentioning

confidence: 99%

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Theorizing ‘Variegated Bonding as SME Diversification Strategy’ to Extend Business from Traditional to Emergent Sectors

kyzy

2022

South Asian Journal of Business and Management Cases

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Few studies on diversification strategies address small and medium-sized enterprises (SMEs) and how they differ from large firms. Although related diversifications tend to be the approach for SME diversifications, we need to know more about unrelated diversifications by SMEs. This study focuses on the process of SME unrelated diversification and conduct ethnographic case study on a family business SME from Kyrgyzstan. The inductive process study offers variegated bonding as a possible process of SME diversification. The process consists of the three steps: appetizing, baby-stepping and reconstructing identity. This study extends the extant literature on SME diversification and investigates how the organizational aspiration of identity reconstructions could lead to the focal organization’s entry to an unrelated sector and establishing connectivity between its core and emergent sector organization that eventually alters its identity.

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Section: Research Context Case and Methodsmentioning

confidence: 99%

Section: Research Context Case and Methodsmentioning

confidence: 99%

Theorizing ‘Variegated Bonding as SME Diversification Strategy’ to Extend Business from Traditional to Emergent Sectors

kyzy

2022

South Asian Journal of Business and Management Cases

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“…Current insufficient process of KYC costs financial institutions about 500 millions of USD annually. As such technology, if implemented wisely, can secure customer data more sufficiently and save banks these immense loses, (Sarnitz and Maier, 2017;Business Insider Intelligence, 2017;Martin, 2018;Patki and Sople, 2020;Cucari et al, 2022). Another advantages of blockchain in increasing transactions speed (Tapscott and Tapscott, 2016;Krause et al, 2018;Harigunami, 2017), and fraud risk reduction (Nelito, 2018;Garg et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Applying Baker’s Reframing Strategies to Texts Translated from English into Bahdini Kurdish

Amedi,

Al-rubai’i

2023

UOD

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Innovative technologies are game-changing in the financial sector. The new-born technology (blockchain) is promising to change the entire banking system, despite various benefits, critical obstacles still stand. In addition, with an overview of major opportunities and challenges, this study aims to conduct a comparison between theoretical literature and practical literature to point out a contradiction if it exists. More than 130 references (paper studies and links) which were conducted by cryptography and technology experts, academics, financial institutions, and other sectors were used to achieve study aims. A systematic approach conducted to accomplish study objectives; we analyzed results and different point of views on blockchain application in banking globally. The study concluded that blockchain itself may hold strengths and weaknesses in a single aspect such as efficiency and security, while no contradictions were observed between the results on the ground and the theoretical literature. The vast majority of references indicate that blockchain will be the next banking system, which may change the legacy of banking. As it stands, the current blockchain-based applications are capable of operating in individual services, specifically in payment systems and cost operations. Financial companies which provide similar services can take advantage of this technology, especially in cross-border transfers, and this will retract a large share of bank profits in case this technology is not adopted. After all, a full adoption needs more improvement in projects and applications based on this technology.

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“…Blockchain technology has emerged as a disruptive force reshaping various industries in recent years (Martino, 2021). Originally conceived as the underlying technology for cryptocurrencies like Bitcoin, blockchain has transcended its initial application, finding relevance in diverse sectors, including finance and human resources (HR).…”

Section: Introductionmentioning

confidence: 99%

Integrating blockchain in HR and finance: A conceptual review and future directions

Blessing Dienyu Ucha,

Funmilayo Aribidesi Ajayi,

Olufunke Olawale

2024

Open Access Res. J. Multidiscip. Stud.

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This review paper explores the integration of blockchain technology in human resources (HR) and finance sectors, examining its potential applications, benefits, challenges, and future directions. Beginning with an overview of blockchain technology, it delves into the challenges faced by traditional HR and finance systems, including data security concerns and inefficiencies. The paper discusses the transformative impact of blockchain on recruitment, employee records management, payroll, smart contracts, payments, and auditing processes. Key benefits of blockchain integration, such as enhanced security, transparency, efficiency, and potential barriers to adoption, are highlighted. The paper discusses emerging trends and innovations in blockchain technology. It offers recommendations for organizations to leverage their full potential in HR and finance. It emphasizes embracing blockchain technology to drive innovation, efficiency, and value creation in the HR and finance sectors.

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Blockchain Technology and the Banking Industry

Cited by 8 publications

References 19 publications

Theorizing ‘Variegated Bonding as SME Diversification Strategy’ to Extend Business from Traditional to Emergent Sectors

Theorizing ‘Variegated Bonding as SME Diversification Strategy’ to Extend Business from Traditional to Emergent Sectors

Applying Baker’s Reframing Strategies to Texts Translated from English into Bahdini Kurdish

Integrating blockchain in HR and finance: A conceptual review and future directions

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