The Role of Blockchain in Revolutionizing Financial Transactions

Abstract

Abstract Blockchain technology has emerged as a transformative force in the financial sector, offering decentralization, transparency, security, and cost-efficiency. Originally developed for cryptocurrencies, Blockchain now extends into banking, remittances, trade finance, and securities settlement. This study investigates Blockchain potential to revolutionize financial transactions by exploring real-world applications, implementation challenges, and stakeholder perceptions. Using a mixed-methods approach of surveys and expert interviews, the research provides empirical evidence of Blockchain benefits and limitations, contributing to the discourse on its role in reshaping financial ecosystems.