Implementation of Blockchain in Fintech

Running head: IMPLEMENTATION OF BLOCKCHAIN IN FINTECH
IMPLEMENTATION OF BLOCKCHAIN IN FINTECH
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IMPLEMENTATION OF BLOCKCHAIN IN FINTECH1
Table of Contents
Literature review........................................................................................................................3
Conclusion..................................................................................................................................6
References..................................................................................................................................8

IMPLEMENTATION OF BLOCKCHAIN IN FINTECH2
Literature review
According to the author Chishti & Barberis (2016), blockchain is considered to be that
specific technology which contains the capability to revolutionize the financial services
taking place within the conductance of businesses. Again as per Campbell-Verduyn (2017),
all the prime characteristics related to the specific technology of the blockchain. It also
consists of the research around the potential implementations of the blockchain that shall be
adopted for the primary activities related to finance, which are payment and remittance, credit
and lending, compliance and trading.
As stated by Lidén (2015), the services related to finance within the industry plays a
major role for the business and the society enabling the services to save and make
investments, providing protection from the risks and the support as a reason for creation of
new jobs and enterprises. Developments in the field of information and technology have
brought a change about the industry over a period of time by provisioning an enormous
increase in the processes of transactions and diversified products. According to Wamba
(2018), the pace at which innovation is happening, within the sector has been a slow process
generally. This is all due to burden on a regular basis for the conservation of culture
embedded within the field of industry. The outcome refers to a more linear and predictable
pattern related to that of innovation with the consideration of five major innovations related
to technology referring to a period of 50 years approximately. These major innovations are,
information systems which are computer based, automated teller machines, electronic stock
trading systems, mainframe computers and lastly, the internet.
According to Guo & Liang (2016), the Blockchain technology is considered to be an
emerging and attracting hype to the scholars and the practitioners due to the fact that this
technology contains the potential for the transformation of supply-chain networks in almost