Identifying and prioritizing the opportunities and challenges of emerging blockchain technology in the banking industry

Subject Areas :

Shabnam Balazadeh gharebaghi ¹ , Fatemeh Sarraf ² , Rasoul Baradaran Hasanzadeh ³ , Somayeh Farhadi ⁴ , Arash Tousi ⁵

1 - PhD Candidate of Accounting, Islamic Azad University ,Tabriz Branch, Tabriz, Iran
2 - Associate Professor , Department of Accounting and Finance, Islamic Azad University ,South Tehran Branch, Tehran,Iran
3 - Associate Professor , Department of Accounting, Islamic Azad University ,Tabriz Branch, Tabriz, Iran
4 - PhD Candidate of Accounting, Islamic Azad University ,Tabriz Branch, Tabriz, Iran
5 - PhD Candidate of Accounting, Islamic Azad University , South Tehran Branch, Tehran,Iran

Received: 2024-02-29 Accepted : 2024-04-24 Published : 2024-08-21

Keywords: Opportunity, Threat, Blockchain, Banking , Themes,

Abstract :

Blockchain is a phenomenon in the field of financial technology that will shape economic and banking developments in this direction. In this article, the researcher has identified and prioritized opportunities and goals by using theme analysis and TOPSIS method through interviews with 10 experts from the university who have information and expertise in the field of financial technology and blockchain. pays for this purpose, by conducting interviews with news people, 21 basic themes along with 3 organizing themes including opportunities and structural, legal and financial challenges were identified, which were categorized based on the researcher's conclusion. In the second step, he prioritized the findings of the research, which results show that in the field of opportunities, with the help of reducing financial costs, intelligent implementation of bank financial management, authentication, integration and increasing the level of access, security, connection to the financial networks of the world, financial efficiency, and speeding up exchanges, the possibility of automatic information registration and reducing liquidity, and in the challenges section, respectively, include tax evasion in banking, lack of government control over it, money laundering, weakness in financial transparency, non-acceptance of new laws, lack of legal supervision, weakness in The financial and economic support is the possibility of evading the law, the lack of optimal financial balance, the possibility of information hacking, and the lack of public trust.

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