A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future Directions
The primary purpose of this paper is to bridge the technology gap between Blockchain and Fintech applications. Blockchain technology is already being explored in a wide number of Fintech sectors. After creating a unique taxonomy for Fintech ecosystems, this paper outlines a number of implementation...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2022-04-01
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| Series: | Cryptography |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2410-387X/6/2/18 |
| _version_ | 1797488611706273792 |
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| author | Keerthi Nelaturu Han Du Duc-Phong Le |
| author_facet | Keerthi Nelaturu Han Du Duc-Phong Le |
| author_sort | Keerthi Nelaturu |
| collection | DOAJ |
| description | The primary purpose of this paper is to bridge the technology gap between Blockchain and Fintech applications. Blockchain technology is already being explored in a wide number of Fintech sectors. After creating a unique taxonomy for Fintech ecosystems, this paper outlines a number of implementation scenarios. For each of the industries in which blockchain is already in use and has established itself as a complementary technology to traditional systems, we give a taxonomy of use cases. In this procedure, we cover both public and private blockchains. Because it is still believed to be in its infancy, especially when it comes to financial use cases, blockchain has both positive and negative aspects. As a result, it is critical to be aware of all of the open research issues in this field. Our goal is to compile a list of open research challenges related to various aspects of the blockchain’s protocol and application layers. Finally, we will provide a clear understanding of the applications for which blockchain can be valuable, as well as the risks associated with its use in parallel. |
| first_indexed | 2024-03-10T00:04:44Z |
| format | Article |
| id | doaj.art-d8d8f961271d46e29ff00b6b8a35b7c5 |
| institution | Directory Open Access Journal |
| issn | 2410-387X |
| language | English |
| last_indexed | 2024-03-10T00:04:44Z |
| publishDate | 2022-04-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Cryptography |
| spelling | doaj.art-d8d8f961271d46e29ff00b6b8a35b7c52023-11-23T16:11:01ZengMDPI AGCryptography2410-387X2022-04-01621810.3390/cryptography6020018A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future DirectionsKeerthi Nelaturu0Han Du1Duc-Phong Le2Fintech Research, Bank of Canada, 234 Wellington Street, Ottawa, ON K1A 0G9, CanadaFintech Research, Bank of Canada, 234 Wellington Street, Ottawa, ON K1A 0G9, CanadaFintech Research, Bank of Canada, 234 Wellington Street, Ottawa, ON K1A 0G9, CanadaThe primary purpose of this paper is to bridge the technology gap between Blockchain and Fintech applications. Blockchain technology is already being explored in a wide number of Fintech sectors. After creating a unique taxonomy for Fintech ecosystems, this paper outlines a number of implementation scenarios. For each of the industries in which blockchain is already in use and has established itself as a complementary technology to traditional systems, we give a taxonomy of use cases. In this procedure, we cover both public and private blockchains. Because it is still believed to be in its infancy, especially when it comes to financial use cases, blockchain has both positive and negative aspects. As a result, it is critical to be aware of all of the open research issues in this field. Our goal is to compile a list of open research challenges related to various aspects of the blockchain’s protocol and application layers. Finally, we will provide a clear understanding of the applications for which blockchain can be valuable, as well as the risks associated with its use in parallel.https://www.mdpi.com/2410-387X/6/2/18blockchainfintechuse-casessecurityprivacycryptography |
| spellingShingle | Keerthi Nelaturu Han Du Duc-Phong Le A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future Directions Cryptography blockchain fintech use-cases security privacy cryptography |
| title | A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future Directions |
| title_full | A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future Directions |
| title_fullStr | A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future Directions |
| title_full_unstemmed | A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future Directions |
| title_short | A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future Directions |
| title_sort | review of blockchain in fintech taxonomy challenges and future directions |
| topic | blockchain fintech use-cases security privacy cryptography |
| url | https://www.mdpi.com/2410-387X/6/2/18 |
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