Development and Implementation of Blockchain Technology in Banking: A Case Study of Professionals in Banking Industry

Abstract

The key objective of the study is to identify the opinion of banking professionals on the introduction of blockchain technology in the Banking sector. The primary data collection was conducted, and the write-up is derived from the analysis of the collected data and the researcher's subjective perspective. The study collected primary data from a sample of 147 respondents who are professionals working in the banking sector in Udaipur. The theme of research is very apt as there is no such related literature available on exactly the title, which makes it all the more unique, interesting and exclusive. The results revealed that the professionals are optimistic about the inception of blockchain technology in banking for several reasons, which they accepted through the Likert statement. However, the respondents of the young and middle age group are in favour of the technology, whereas others do not favour this change.