Modelling blockchain technology-driven practices to be integrated in fintech for creating reliable business processes

Abstract

Blockchain technology has emerged as a disruptive force that has the potential to transform many industries, including fintech. In the fintech industry, blockchain technology can be used to create reliable business processes that are transparent, secure, and efficient. However, integrating blockchain technology in fintech requires careful consideration of various factors such as data privacy, regulatory compliance, and scalability. This research paper presents a comprehensive review of the literature on integrating blockchain technology in fintech for creating reliable business processes. The results of this research paper suggest that integrating blockchain technology into fintech requires a strategic approach that considers the unique characteristics and requirements of the fintech industry. The study proposes a model for integrating blockchain technology-driven practices in fintech that includes key factors such as data privacy, regulatory compliance, scalability, interoperability, and governance. The implications of this research paper are significant for the fintech industry as it provides a roadmap for integrating blockchain technology in fintech for creating reliable business processes. The proposed model can be used by fintech firms, regulators, and policymakers to develop a comprehensive blockchain technology integration strategy that addresses the key challenges and opportunities of blockchain technology. This research sheds light on the ways in which blockchain technology could revolutionize the fintech sector and proposes actionable suggestions for its implementation.