Past, present, and future of block-chain in finance

Abstract

Diverse businesses are investigating the possibility of redefining their current operational systems in light of the latest blockchain, initially developed for Bitcoin traBitcoinns. This research examines the existing literature on blockchain and its application in the finance sector. This paper provides a systematic literature review of the uses of blockchain in the finance sector. To conduct the review, we performed a boolean search on the Scopus database and obtained 149 records, which we then analyzed bibliometrically using the bibliometrix package in R. The categorization of the existing literature into themes resulted in identifying the following six significant research themes: financial inclusion, sustainable finance, blockchain technology, cryptocurrencies, and artificial intelligence. Following the inductive analysis, we propose a conceptual framework that includes components such as the digital financial revolution, innovation, entrepreneurship, the financial market, sustainable business development, and financial innovation and sustainability. These findings are utilized to suggest future lines of inquiry for this area of study, including the necessity of methodological development and theoretical foundation.