The Importance Of Adopting Blockchain Technology In The Financial And Banking Sector: Saudi Arabia As A Model

Résumé: Abstract : This study illuminates the transformative potential of blockchain technology for the financial and banking sector, detailing its numerous advantages and extensive capabilities. Blockchain offers the potential to deliver innovative financial services at low costs while ensuring high quality, speed, and efficiency in operations. It also enhances transparency, eliminates intermediaries, and strengthens information security. The study found that the blockchain market has experienced significant growth in recent years, particularly within the financial sector, despite being a relatively new technology. Recognizing its importance, Saudi Arabia swiftly embraced blockchain technology, launching several pioneering initiatives aimed at improving cross-border payment and transfer systems, as well as optimizing bank settlement processes. Jel Classification Codes : G21, O33, F24

Publié dans la revue: مجلة دراسات في الاقتصاد وإدارة الأعمال