Fantastic Beasts: Blockchain Based Banking

Journal of Risk and Financial Management, 14(4), 170. doi:10.3390/jrfm14040170

The University of Auckland Business School Research Paper Series

Posted: 17 Jan 2022

See all articles by Dulani Jayasuriya

Dulani Jayasuriya

University of Auckland Business School

Alexandra Sims

University of Auckland Business School

Date Written: 2021

Abstract

Blockchain is one of the primary digital technologies utilised in the finance industry with huge future potential. This study conducts a systematic literature review of a final sample of 407 prior literature from an initial set of 1979 records for the sample period of 2013–2020 with regard to blockchain adoption in banking. This review is further supplemented by a machine learning based textual analysis that identifies key themes, trends, divergences and gaps between academic and practitioner led industry literature. Moreover, the study highlights present, future use cases, adoption barriers and misconceptions of blockchains in banking, especially given COVID-19. Furthermore, this study identifies behavioural, social, economic, regulatory and managerial implications of blockchain based banking. In addition, our study identifies the cross-industry potential of blockchains via banking, thus, linking much disconnected prior literature. Finally, we develop a blockchain adoption framework and an adoption life cycle for banking. This study would be of interest to academics, bankers, regulators, investors, auditors and other stakeholders in financial markets. Full paper available at http://doi.org/10.3390/jrfm14040170

Keywords: fintech, disruptive technology, financial services, banking,COVID-19, cryptocurrencies

Suggested Citation

Jayasuriya, Dulani and Sims, Alexandra, Fantastic Beasts: Blockchain Based Banking (2021). Journal of Risk and Financial Management, 14(4), 170. doi:10.3390/jrfm14040170, The University of Auckland Business School Research Paper Series, Available at SSRN: https://ssrn.com/abstract=4001049

Dulani Jayasuriya (Contact Author)

University of Auckland Business School ( email )

12 Grafton Rd
Private Bag 92019
Auckland, 1010
New Zealand

Alexandra Sims

University of Auckland Business School ( email )

12 Grafton Rd
Private Bag 92019
Auckland, 1010
New Zealand

HOME PAGE: http://www.business.auckland.ac.nz/people/asim033

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