Blockchain Technology in Indian Banking Sector: A Systematic Review Envisaging Application in the Banking Sector
Pitresh Kaushik, Neha Kukrety, Nishchay Saxena · Zenodo (CERN European Organization for Nuclear Research) · 2023
Abstract: The Indian banking industry is witnessing a major disruption with the advent of blockchain technology. With more and more frauds and anomalies getting detected every day, the need to secure the systems and the processes for higher efficiencies is crucial to gain momentum in the industry. Furthermore, there are many use cases for blockchain technology; with blockchain, banks can securely store records and provide faster and more reliable services to their customers. Hence, this study aims to present a riveting view of different applications of blockchain in the Indian banking industry to understand the impact it may produce once this technology becomes mainstream. This study uses the SCOPUS database to synthesize the systematic review. The outcome of this study provides a blueprint for further research in the area of advancing blockchain in the banking industry. Keywords: Blockchain, Banking, Application, Electronic Money, DLT JEL Classification Number: E58, E59