Emerging research on blockchain technology in finance; a conveyed evidence of bibliometric-based evaluations

Abstract

The emergence of blockchain technology is reshaping several aspects of economies, opening a wider spectrum for the research communities, and making it critical to conduct studies that comprehensively analyze this body of knowledge. From the Web of Sciences' database, a bibliometric study using VOS viewer and biblioshiny tool is provided on the evolving research on blockchain technology in finance. Blockchain in finance has provided enabled applications such as tokens, initial coin offerings, crowdfunding, smart contracts, prediction marketplace systems, and digital currencies like Bitcoin and Ethereum. In this study, we convey a detailed bibliometric-based evaluation of scientific research publications from 2008 to mid-2020. With 157 articles retrieved, our findings show the global trends, current tendencies, and frontiers. We report that blockchain technology research in finance has evolved and is predominated by studies on crowdfunding/equity crowdfunding, entrepreneurial finance, bitcoin, entrepreneurship, fintech, and venture capital. However, several of these studies are contextually based, with scantily used cases leading to the design of frameworks and architectures. Additionally, the majority of the studies could not afford sufficient details on the practical discharge of the few blockchain-enabled prototypes.