Comprehensive Review of Blockchain Applications in Fintech Companies
Journal of System and Management Sciences · 2023
The application of blockchain technologies has been gaining popularity in the fintech industry and its effects on the performance of fintech companies have emerged as an important field of research in the domain of finance.Thus this paper comprehensively reviews recent literature on blockchain applications in fintech companies in order to understand how it can be designed and utilised to optimize fintech service delivery.The focus is on blockchain application literature related to fintech from the perspective of both Chinese and global fintech companies.The results show that explain the optimization of fintech company performance through the unique characteristics of blockchain and the features of blockchain-enabled smart contract application.Also, we found that blockchain technologies possess unique characteristics that can enhance fintech systems and processes.Furthermore, meta-analysis and conceptual papers are the most commonly employed methodological approaches in the literature.This review provides a foundation for future studies that can contribute to the development of more robust methodological systems to accurately measure and understand the dynamics of blockchain application in fintech.Otherwise, it provides valuable insights into the applications, benefits, and challenges of blockchain technology for fintech companies.