Innovation and Challenges of Blockchain in Banking: A Scientometric View

Abstract

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.

The linear and non-linear interactions between blockchain technology index and the stock market indices: a case study of the UAE banking sector

“…Because the UAE banking industry has been an early adopter of blockchain technology, it reduces costs, speeds transactions, improves data quality, accepts electronic currencies, improves accountability, improves compliance and ultimately improves performance, which, in turn, reflects on stock prices. The results of this study are in line with previous research, such as that of Guo and Liang (2016), Arjun and Suprabha (2020) and Nair and Bhagat (2020), which found that cost optimization, increased operational efficiency and risk reduction were among the factors that led to the adoption of these technologies in banking industry.…”

“…Based on the mean equation as illustrated in Table 4, the findings indicate that blockchain technology has a significant positive influence on the stock market returns of both Abu Dhabi and Dubai banks. Because the UAE banking industry has been an early Guo and Liang (2016), Arjun and Suprabha (2020) and Nair and Bhagat (2020), which found that cost optimization, increased operational efficiency and risk reduction were among the factors that led to the adoption of these technologies in banking industry.…”

Blockchain: an EOM approach to reconciliation in banking

“…The roles and responsibilities of the staff must be clearly defined and assigned effectively, involving the identification of personnel who will ensure the establishment, run and support the system (Schuetz & Venkatesh, 2020). There must be legal approval from the board of directors with a strategic blueprint of the technological flow to prevent data compliance, report streaming and ensure transparency and accuracy (Arjun & Suprabha, 2020). The authors have conducted the study on the application of the mentioned technology in online payments and sales transaction systems focused on the various financial sectors where the outcome reflects that the new avenue is still being explored by these banks in terms of its feasibility towards the application due to the legal framework still awaiting a structured mechanism on its international payment transactions (Peter & Moser, 2017).…”

Blockchain for supply chain performance and logistics management

“…The practice level and middle‐range theory are developed and tested to validate the measurement scales and to ensure the validity of content 26 . The outcome of blockchain technologies in the banking industry is methodically studied in the view of management, law, and technology 27 . This article reviewed digital application areas, which range from digital IT and big data marketing as digitalized trust marketing to show the marketing intelligence 28 .…”