Journal
EURASIAN ECONOMIC PERSPECTIVES
Volume 16, Issue -, Pages 75-89Publisher
SPRINGER INTERNATIONAL PUBLISHING AG
DOI: 10.1007/978-3-030-63149-9_5
Keywords
Blockchain; Bank; Financial service; Innovation; Service quality; Performance
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Despite the potential promises that blockchain technology offers to the financial services sector, its large-scale implementations are still in a nascent stage. This research explores the potential impact of blockchain technology by assessing its dimensions in organizations and analyzing primary data collected from senior managers of various banks in India. The study findings provide important considerations for the implementation of blockchain technology.
Despite the potential promises that blockchain technology (BT) offers to the financial services sector, its large-scale implementations are still in a nascent stage. There is no consensus on what benefits BT may bring, and there is always a possibility of difference between expected benefits and experienced real-world impact. Since the actual impact can be assessed only after large-scale implementations by financial institutions, there is little empirical evidence available in the literature. In this context, this research seeks to explore the potential impact of BT by developing and empirically testing a model. For this purpose, we have identified four dimensions of BT, namely, Decentralization, Transparency, Trustlessness, and Security. The impact of BT on innovation, service quality, and firm performance is assessed based on the extent to which these dimensions are present in the organization. The linkages of the latent constructs are estimated by analyzing the primary data collected from senior managers of various banks in India. The findings of this study provide several important considerations regarding the implementation of BT.
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