Financial Technology (FinTech) innovations have fundamentally transformed the global financial services industry by leveraging digital technologies such as artificial intelligence, blockchain, big data analytics, cloud computing, and mobile platforms. FinTech innovations have reshaped payments, lending, wealth management, insurance, risk management, and regulatory compliance, enhancing efficiency, financial inclusion, and customer experience. This review synthesizes the theoretical foundations, technological drivers, and major categories of FinTech innovations, including digital payments, blockchain-based finance, peer-to-peer lending, robo-advisory services, InsurTech, RegTech, and decentralized finance (DeFi). Through a comparative analysis, the paper evaluates benefits, risks, and adoption challenges of FinTech solutions. The discussion highlights regulatory, ethical, and cybersecurity implications, while the conclusion outlines managerial implications and future research directions in the evolving FinTech ecosystem.
Milad Baghalzadeh Shishehgarkhaneh, Robert Moehler, Sina Fard Moradinia
In recent years, applications of Blockchain technology (BCT) have been progressing at a galloping rate in miscellaneous fields, such as finance, education, travel, healthcare, and insurance. However, BCT has gained much popularity in the construction industry, especially in developed nations worldwide, as it can solve real-world problems, including poor payments, inadequate cooperation and collaboration, inappropriate data sharing among stakeholders, and poor efficiency. The current research employs a bibliometric and systematic literature review (SLR) on utilizing BCT in the construction industry. Using co-occurrence and co-citation studies, network visualization and other methodologies concerning the Web of Science (WOS) database and the research contactsâ patterns were investigated in 482 academic papers. Notable publications, conferences, significant writers, nations, organizations, and funding organizations have been acknowledged. Our research reveals that the primary study topics are BCT in the construction industry, supply chain management, smart contracts, sustainability, building information modeling (BIM), the Internet of Things (IoT) and energy efficiency. Several possible fields for further research are mentioned, including the use of BCT in: (i) circular economy, (ii) risk management, (iii) smart villages, and (iv) infrastructure construction projects.
Abstract: Our country has an excessive number of organisations, which deter individuals from donating since they are opaque and challenging to monitor. People frequently ponder whether giving to charitable organisations will affect their choice. Many non-profit organisations engage in unscrupulous business techniques to raise money. People's faith in charity has been shattered by these methods, which have also raised concerns about the reliability of charitable endeavours. Today's non-profit sector is highly concerned about transparency. By turning donations into digital assets and boosting trust in non-profit organisations, blockchain [1] and smart contracts [2] open up new opportunities for charitable giving. Now, donors can see the results of their donations, and charities can use crypto tokens [4] to encourage giving. In recent years, blockchain technology has become one of the most trending areas of technology. Specifically, distributed ledger technology has been used in the financial industry to create crypto currency and develop a new digital market sector. Despite this, blockchain with its immutability and transparency has a much wider range of potential applications. Blockchain technology has the ability to significantly alter the charity industry. Increased responsibility and confidence in charitable donations may result from blockchain's decentralised and transparent nature. The usage of blockchain in charity is examined in this research article along with its potential advantages, including greater accountability, increased efficiency, and increased transparency. The absence of regulations, technical complexity, and cost are some of the difficulties that must be overcome. The use of blockchain technology in philanthropy is significant and merits more research to ascertain how it may be most effectively incorporated into current systems to enhance the philanthropic sector.
Nowadays blockchain technology plays a vital role in creative developments and important discoveries in the world. Blockchain develops secure and trustworthy platforms for data sharing in various application areas such as secure sharing of medical data, Anti-money laundering, tracking systems, Supply chain, and logistics monitoring, Crypto-currency exchange, etc. Today's Supply chain in the healthcare sector faces many problems like security, transparency, tampering with medical products, counterfeit drugs, more paperwork, high cost, and more time-consuming process while transporting medical equipment from manufacture to end-users. To overcome these problems, we introduce Novel Approach for Integrated IoT (Internet of Things) With Blockchain in Health Supply Chain (NAIBHSC) approach. By using this approach, we can eliminate all supply chain-related issues between suppliers and end-users. The goal of this research is by combining Blockchain technology with IoT to develop a smart health supply chain management system. This approach provides security, privacy, trust, visibility, decentralized tracking and tracing of the medical product, avoids counterfeit drugs, avoids the damage to medical components, authentication, reduces the cost, and provides the status of the products during the shipment process between manufacturers to end-user. In this approach, we conduct a series of experiments on a different group of users. The experimental results show that compare to existing approaches our proposed NAIBHSC approach gives better response time that is the average Transaction Per Second (TPS) for a group of 500 users is 100 milliseconds, reduces the latency time that is average latency time for 500 users group has 403 milliseconds, and improves the overall performance of the smart health supply chain management system.
Contemporarily, the popularity and use of cryptocurrencies has risen along with their prices and Ethereum is the second most popular and largest cryptocurrency after Bitcoin. Cryptocurrencies are based on the blockchain, which is a decentralized technology that has the power to change any banking system. They have become an attractive investment for both traders and individuals looking to invest. The price of Ethereum fluctuates and is affected by various factors, e.g., the crypto trading exchange as well as supply and demand. Ethereum is so valuable because it can be used as cash and one also pay Ethereum in full or in part to someone in exchange. Besides, it is easily guaranteed by the blockchain. Unlike stocks, the price of Ethereum is much more variable because it is traded 24 hours a day and there are no closing times. On this basis, this paper compares the results of two different models, namely linear regression and Long Short-Term Memory networks (LSTM). The dataset comprised in the closing prices of the last 372 days for Ethereum. The performance of the obtained models is critically evaluated using statistical indicators Root Mean Squared Error (RMSE) and the study have drawn our conclusions based on the RMSE result. The paper demonstrates a technique for using time series data in both models and determining each model's RMSE. These results shed light on guiding further exploration of prediction Ethereum prices and trends.
Shahbaz Khan, Mohd Imran Khan, Rubee Singh GLA University, mathura
Blockchain is an emerging technology that can transform many sectors in the age of digitization. By adding more transparency to the transitions of information and physical items, blockchain is considered a disruptive innovation that has the power to alter conventional supply chain activities. In these circumstances, blockchain technology must also be implemented in the supply chain. While implementing blockchain technology, supply chain partners face a number of barriers. As a result, the main goal of this research is to explore the prime barriers to the adoption of blockchain technology in the supply chain. In order to achieve these goals, we reviewed the literature and sought the advice of industry experts to identify the 10 main barriers to the adoption of blockchain technology. Further, the DEMATEL approach is used to categorize the finalized barriers into influential and influenced groups. The finding of this study suggests that âinfluential groupâ barriers demand more attention from the supply chain partners to minimize these barriers. The top influencing factors are âunwillingness of information sharingâ, âlack of trust among SC partnersâ and âlack of technological advancementâ and these barriers demand quick attention from supply chain stakeholders. This study looks into the barriers that stand in the way of effectively implementing blockchain in the supply chain, which will help managers do so.
Purpose Blockchain can track the material from the manufacturer to the end customers. Therefore, it can ensure the product's authenticity, transparency and trust in the retail supply chain (SC). There is a need to trace and track the retail products before it reaches the customers to check the quality of the products so that expired products can be recycled and reused, which in turn will help gain customers' trust. This research aims to investigate retail employees' behavioural intention to adopt blockchain in the retail SC. Design/methodology/approach To examine the behavioural intention of employees in the retail SC, the research uses three theories â the technology acceptance model; the unified theory of acceptance and use of technology; and the theory of planned behaviour. The technology acceptance model measures the employee's acceptance of blockchain in the retail SC. The unified theory of acceptance is used in this research to measure how blockchain adoption will improve the performance of the employees. The theory of planned behaviour is used in this research to measure whether the employees intend to adopt blockchain. A survey was carried out in the retail stores of India. Exploratory factor analysis and structural equation modelling were used for data analysis. Findings This study found that the employees of the retail stores have a positive intention and attitude to adopt blockchain technology. Further, it was found that perceived behavioural control and effort expectancy was not promoting blockchain adoption in the retail sector. Practical implications This study will help the retail stores' employees understand the blockchain in their operations and will motivate the top management of the retail companies to adopt this technology. The study is limited to the retail SC in India only. Originality/value This study uses three theories technology acceptance model; the unified theory of acceptance and use of technology; and the theory of planned behaviour, which were not used in earlier studies of blockchain adoption in the retail SC.
Purpose This paper aims to propose a system dynamics model of blockchain online community knowledge sharing, with the following goals: to reveal the internal mechanism of blockchain technology on community knowledge sharing; to show the impact of blockchain technology on knowledge sharing; and to promote knowledge sharing and the self-development of blockchain online communities. Design/methodology/approach Based on the core characteristic factors of blockchain technology, including incentive mechanism, trust mechanism, information protection mechanism, etc., a knowledge sharing analysis framework is established. Through the use of the Vensim PLE (Personal Learning Version) software, according to the steps of âputting forward a dynamic hypothesisâ, âestablishing a system dynamic equationsâ, and then âmodel testingâ and âsimulationâ, the article analyzes in depth the process and extent of the impact of the above features on online community knowledge sharing. Findings The results show that the blockchain incentive mechanism, trust mechanism and information protection mechanism all contribute to promoting an increase in the number of community knowledge sharing users, as well as in the total amount of knowledge shared. The results also show that the token reward in the incentive mechanism has in fact a higher degree of influence than the trust and information protection mechanisms. Originality/value At present, no research on the internal mechanism of knowledge sharing in blockchain online communities has been carried out. This article plays a complementary role in research in this field, and offers significant guidance for promoting online community knowledge management and online community development.
Mohammad Wasiq, Abu Bashar, Syed Akmal, Mustafa Raza Rabbani ¡ 7 authors
Blockchain technology has disrupted the traditional approaches of marketing and introduced altogether contemporary marketing frameworks using its unique capabilities of decentralization, security and transparency. In recent times, this technology has attracted both academicians and practitioners to study the underlying processes and opportunities of the application of blockchain technology in marketing. Although there is an increasing deliberation in researching the use of blockchain in marketing, there exists an intermittent gap in holistic overview of the current trends and future boundaries. This article is an attempt to present a comprehensive current state and prospects of expansion in the research of the application of blockchain technology in marketing using state of the art bibliometric review analysis. The bibliometric analysis using 161 articles from Scopus database revealed the influential aspects of research such as prolific authors, influential documents, countries, affiliations, sources and keywords. Moreover, emerging research streams about the application of blockchain is identified and enumerated using network synthesis and visualization of co-citation, and keywords co-occurrence networks. These findings pave the ways for future research expansion. The results shows that the research on applications of blockchain technology has been maturing over time. However, the research streams reveal that blockchain based marketing framework is still in its infancy stage.
Rashikala Weerawarna, Shah Jahan Miah, Xuefeng Shao
Abstract Blockchain has become a widely used information system technology recently because of its effectiveness as an intermediary-free platform. While the use of blockchain in various fields, such as finance, supply chains, healthcare, education, and energy consumption, is increasingly enabling the development of Internet-enabled âdistributed databases,â there are not many exploratory studies available to provide an understanding of how the field is progressing. Therefore, it is imperative to explore the status quo of blockchain technology in the finance sector, particularly highlighting how blockchain architectures can aid the finance sector to gain competitive advantage. This systematic literature review analyzes the content of the 50 most relevant articles and professional industry reports through peer-reviewed relevant academic literature in the finance sector from 2008 to 2022 to identify several possible features of blockchain research in the financial sector. This study highlighted the dimensions of blockchain technology, blockchain in finance, its competitive advantages, the current status of finance, and various challenges that keep the implementation of blockchain-based financial information systems at the initial stage. We identified three main areas that require research attention in order for blockchain technology to become the ânext-generation networksâ that will revolutionize the financial sector.
Zerin Tasnim, Mahmud Akhter Shareef, Abdullah M. Baabdullah, Abu Bakar Abdul Hamid ¡ 5 authors
This paper employed an integrated model for examining behavioral intention to adopt blockchain technology in the supply chain management of manufacturing industries in Bangladesh. The proposed conceptual model was empirically tested using data collected from 189 supply chain managers working in manufacturing organizations in Bangladesh. The findings suggest that perceived usefulness, trading partnersâ pressure, and competitive pressure are the most important determinant of behavioral intention.
Blockchain technology has been used in the healthcare sector in a spectacular manner. Medical negligence is a worldwide problem that both developed and developing nations must deal with. Blockchain offers a safe and open system of coordinated medical management that puts patients first and enables the effective and efficient execution of national health insurance plans. This paper discussed about the 2017 National Health Policy of India. The social and technical barriers in the implementation of the scheme are examined in this paper. A Blockchain technology-based provider known as Aarogya Chain is suggested to remove these barriers.
The maritime operations present several pain points, such as low transparency, poor paperless efficiency, and difficult trust management among supply chain participants. Blockchain is emerging as an innovative technology that solves pain points of maritime operations. Blockchain adoption in the maritime literature remains scarcely investigated, especially in identifying potential factors that may affect blockchain adoption intention. Based on the technological-organizational-environmental (TOE) framework, this study develops the research model to examine the determinants of blockchain adoption intention. Data collected from 161 firms in Taiwanese maritime industry were used to test the hypotheses in the research model. The findings revealed that knowledge absorption capability is the most important enablers of blockchain adoption in the organizational context, followed by perceived relative advantage in the technological context, and trading partner influence in the environmental context. Unexpectedly, perceived complexity does not appear to be decisive in predicting blockchain adoption intention. This study also discusses theoretical and managerial implications by providing valuable insights into the determinants of blockchain adoption intention.
Haji Suleman Ali, Feiyan Jia, Zhiyuan Lou, Jingui Xie
Despite blockchain's potential to transform corporations by providing new ways of organizing business processes and handling information, extant research pays inadequate attention to how and under what conditions blockchain technology provides additional financial value for shareholders. Drawing on the efficient market hypothesis and signaling theory, we examined the relationship between firms' blockchain use, development announcements, and stock market reactions. We used the event study methodology to analyze a sample of blockchain projects initiated by US firms between 2016 and 2019. The sample contains 114 firm-event observations. The findings show that the average abnormal return over a 2 days event period (including the day of the announcement and the day after the announcement) was positive. This positive stock market reaction is even more substantial when firms announce blockchain projects that focus on saving cost or time. Our findings also indicate that blockchain announcements tend to elicit more positive market reactions from smaller firms. We analyzed 249 firm-event observations containing firms from around the world and conclude that blockchain technology has a non-significant long-term impact on operating performance. The contingency approach adopted in our research provides advice for selecting the right mix of blockchain investment initiatives that is most suitable for a given organizational context.
Purpose Blockchain technology has the potential to enhance information and knowledge management among members of the supply chain. This study aims to demonstrate the direct and indirect impact of blockchain adoption on achieving supply chain competitive advantage and improving innovation capabilities to achieve greater supply chain performance. Design/methodology/approach The study opted for a quantitative research approach. A structured questionnaire was used to collect data from 284 respondents from various Jordanian manufacturing firms. Smart PLS software was used to conduct structural equation modelling to test the proposed hypotheses. Findings The analysis revealed that investing in and using blockchain-enabled supply chain applications improves the ability to achieve higher levels of productivity, lead times, customer service and relationships with supply chain members. Moreover, blockchain technology integration with supply chain management processes has a positive impact on innovative activities that support supply chain operations. Finally, blockchain adoption has enhanced supply chain performance by reducing transaction costs, improving customer service and increasing the speed of supply chain operations. Research limitations/implications The study provides guidance for decision-makers and academicians on the use of blockchain adoption to improve supply chain performance. Future studies should use a larger sample size and random sampling techniques to achieve better generalizability of the results. Originality/value The study fulfils an identified gap in the application of blockchain technology to improving supply chain performance within a broader context that encompasses supply chain innovation capabilities and competitive advantage.
Purpose The paper examines the intent to adopt blockchain-facilitated Halal traceability (BFHT) scheme in Indonesian firms' Halal food supply chain (SC). This study integrates Halal-focused attitude, innovation diffusion and institutional theories to construct the model. Design/methodology/approach Data collection uses a simple random sampling method. Respondents are company leaders with experience and knowledge regarding Halal SC. The SEM-PLS approach was applied to test the hypothetical structure. Findings The intent to adopt BFHT is considerably affected by perceived attractiveness, as perceived attractiveness is considerably affected by institutional forces, which are significantly influenced by Halal-focused attitude. Firms that follow a completely Halal-focused attitude show higher awareness regarding institutional forces that motivate them to adopt a BFHT. Originality/value This research is among the initial works regarding Halal SCs that integrate Halal-focused attitude, innovation diffusion and institutional theories to recognise firms' intent to adopt a BFHT scheme.
Gongfan Chen, Min Liu, Yuxiang Zhang, Zhigao Wang ¡ 6 authors
Reliable construction workflow relies on timely discovery, analysis, and checking of compliance with contract terms, which are time consuming and inefficient tasks. Smart contracts enabled by blockchain technology have demonstrated promise in addressing the inefficiencies of data communications due to their merits of traceability, immutability, transparency, and self-enforceability. However, a smart contractâs inability to interact with real-world data is the main issue that impedes further implementation. Todayâs increasing availability of as-built data provides automatic condition assessments that have great potential to automate smart contract executions. This research area is uncharted territory for the industry. This research selects a case study to present an automatic decentralized management framework by exploring image-based deep learning solutions to automate and decentralize the conditioning of smart contract executions enabled by a web3.js-based decentralized blockchain application. It was found that the model can automate management intelligence with minimal workflow interruptions by timely identification of bottleneck activities and enforcement of mitigation strategies. Project managers can use the blockchain prototype to enhance information sharing, remove key risks, and enable a reliable workflow with minimal management efforts.
Healthcare, being a basic necessity and a fundamental human right, is a paramount discipline of research today. During the past decade, blockchain technology has gained an increased interest from academic scholars for its use in the healthcare sector. Applications such as healthcare supply chain, identification of fake drugs, managing and securing electronic health records, managing patient appointments with healthcare providers, regular patient monitoring using various tools, and telemedicine come into picture with respect to healthcare. A thorough survey of related research works in this domain is required in order to gain insights into the future ideas and recommendations for the use of blockchain technology in the healthcare sector. In this book chapter, we aim to provide an exhaustive systematic review of research publications related to smart healthcare applications by the use of blockchain technology. With a thorough review and study of the research works selected by systematic approach, this book chapter aims 212 to answer a set of research questions focusing on blockchain platforms, consensus methods, smart contracts, system evaluation methods, and their drawbacks. A tabular comparison of all the research articles on the basis of the research questions is provided. In the end, we give our observations of the challenges and limitations of the research works under this study, and their possible solutions. Thus, we reach up to a future scope of blockchain technology in healthcare applications.
Blockchain is the foundational technology that allows cryptocurrencies like bitcoin to exist. Blockchain technology has been used in numerous domains such as banking, justice, and commerce as part of the fourth industrial revolution since the invention of the steam engine, electricity, and computer technology. People's willingness to adopt technology has been influenced by rapid technological improvement. The traditional education system in developing nations has lately been improved through the implementation of distributed ledger technology. Disruptive technology in education is a key prerequisite for better accountability and exposure. The authors investigated the key factors influencing educational institutions' (knowledge providers) and learners' (knowledge recipients) intentions to use blockchain technology.
Blockchain has attracted attention within business circles because it promotes secure and cost-saving transactions between anonymous parties without human mediation. This study examines the Technological Organizational and Environmental (TOE) drivers of blockchain supply chain finance adoption in Ghanaian SMEs. Specifically, this study differs from prior studies employing the United Theory of Acceptance and Use of Technology (UTAUT) and the Technology Acceptance Model (TAM) which ignores the TOE elements. Utilising the Partial Least Squares Structural Equation Modelling method (PLS-SEM) and nonlinear non-compensatory PLS-ANN approach, we provide empirical evidence using data from 214 registered SME members of the Association of Ghana Industries (AGI). Our findings suggest that relative advantage, cost, and complexity significantly influence the adoption of blockchain supply chain finance in SMEs. However, competitive pressure, market dynamics, and SME owner/manager support had no statistically significant influence on the intention of SMEs to adopt blockchain supply chain finance. This is because of the relatively low adoption rate of blockchain applications in SMEs in the country. Therefore, extensive education on the applications of blockchain technology is required to stimulate diffusion amongst SMEs.
Ernest Effah Ameyaw, David J. Edwards, Bimal Kumar, Niraj Thurairajah ¡ 6 authors
Construction projects are premised upon contractual arrangements, and contracts constitute the basis of their success. A contract enables execution of work and transfer of payments, tracking of key performance indicators, and facilitation of collaboration among project stakeholders. Historically, construction projects have faced critical challenges due to poor alignment between clientsâ expectations, contract terms, and contractor performance. The advent of advanced digital technologies under the concept of Industry 4.0 has the potential to benefit construction projects through application of blockchain-enabled smart contracts. However, the adoption of smart contracts in construction projects is in its early stages, and the factors that will influence its adoption remain unclear. Therefore, this study aimed to explore and establish the critical factors influencing adoption of smart contracts in construction contractual arrangements. This study administered an international questionnaire survey among experienced construction practitioners with involvement in smart contract initiatives and activities. The results obtained from descriptive statistics and fuzzy set-based analysis show that trialability, relative advantage, competitive advantage, and compatibility of smart contracts are the important predictors of the adoption of such contracts. The findings suggest that practitioners share a view that technological characteristics of blockchain-enabled smart contracts are critical to their adoption, regarding the technologyâs perceived practicality in improving effectiveness and efficiency of construction projects. This study contributes to technology diffusion research in construction and highlights drivers that require practitionersâ and industry leadersâ attention to ensure successful adoption of smart contracts for cost-effective delivery of construction projects.