Blockchain Technology in Finance: A Review of Use Cases and Implementation.

Blockchain technology has emerged as a transformative innovation in the financial sector, offering enhanced security, transparency, and operational efficiency. This research paper reviews the various use cases of blockchain technology in finance, including cryptocurrencies, cross-border payments, smart contracts, supply chain finance, central bank digital currencies, and regulatory compliance. Utilizing a qualitative research design, data was gathered from industry reports and peer-reviewed academic papers, and analyzed using content analysis facilitated by NVivo software. The key findings reveal that blockchain significantly improves transaction efficiency and reduces costs. However, major challenges such as regulatory uncertainty, scalability issues, data privacy concerns, and integration with legacy systems hinder widespread adoption. The study underscores the need for clear regulatory frameworks, technological advancements, and strategic collaboration among stakeholders. The broader implications suggest that addressing these challenges is crucial for harnessing the full potential of blockchain technology to revolutionize financial services. [ABSTRACT FROM AUTHOR]