International Journal on Science and Technology

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Role of Blockchain in Finance

Author(s) CA Pratyush Mehta
Country India
Abstract Blockchain has matured from being mainly linked with cryptocurrencies to being a central technology with revolutionary potential for financial systems globally. By allowing safe, decentralized, and tamper-resistant ledgers, blockchain can cut down on the cost of transactions, enhance transparency, and raise efficiency in many areas of finance. This paper discusses the applications of blockchain in payments, cross-border remittances, capital markets, trade finance, and compliance. It includes fresh data from international organizations, central banks, and private industry reports to note both Indian and global developments. For example, close to 91% of the central banks surveyed are now investigating central bank digital currencies (CBDCs), and India's pilot retail digital rupee has already signed up millions of customers. Concurrently, the World Bank also points out that the global remittance average cost still exceeds 4%, a far cry from policy levels, indicating that blockchain is able to bridge this gap. While the technology has potential for efficiency and financial inclusion, there are issues around interoperability, privacy, cyber threats, and regulatory clarity. The report concludes that the contribution of blockchain to finance will most likely be characterized not by substituting current systems, but by integrating programmability and transparency into the mainstream financial infrastructure.
Keywords Blockchain, Digital Currency, Tokenisation, Cross-Border Payments, Financial Inclusion
Published In Volume 16, Issue 3, July-September 2025
Published On 2025-09-01
DOI https://doi.org/10.71097/IJSAT.v16.i3.8009
Short DOI https://doi.org/g9z5m5
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