Blockchain Technology Promoting the Development of Green Finance: Evidence from India
Pushpa Bandari, S K Shabana Begum, Thota Nikhitha, Shaik Jareena, Palagati Anusha · International Research Journal of Innovations in Engineering and Technology · 2025
The integration of blockchain technology into green finance has emerged as a transformative approach to fostering sustainable investments, particularly in developing economies like India. This study explores how blockchain enhances transparency, accountability, and efficiency in green finance mechanisms, thereby promoting environmental sustainability. By leveraging features such as decentralization, smart contracts, and immutable records, blockchain can address challenges like fraud, inefficiency, and lack of trust in green financial transactions. The study employs a mixed-methods approach, utilizing surveys and statistical analysis to assess blockchain’s impact on green investment tracking and regulatory compliance. Findings indicate that blockchain significantly improves transparency (β = 0.42, p < 0.01) and automation (β = 0.35, p < 0.01), positively influencing green finance adoption. However, regulatory uncertainty and high implementation costs remain key barriers. The study suggests policy reforms, financial incentives, and capacity-building initiatives to enhance blockchain adoption in India's green finance sector. With strategic interventions, blockchain can serve as a catalyst for accelerating the transition toward a more sustainable and transparent financial ecosystem.