Modeling the Impact of Blockchain Technology on Fintech in the Financial and Banking Sectors

Given the potential impact of blockchain technology on the banking industry, it is crucial to explore how this technology influences business models within the sector. This understanding can provide valuable insights into how value is created, delivered, and captured in banking. The main objective of this article is to present a blockchain technology framework as applied to fintech in the financial and banking sectors. This study employs metacomposition to identify key factors, the fuzzy Delphi method to evaluate, refine, and localize the model, and the Dimetal technique to analyze relationships and effects. The research involved a systematic review of 849 articles (ranging from 1395 to 1402 in the Iranian calendar for domestic articles, and from 2016 to 2023 for international articles), from which 73 articles were selected and analyzed using content analysis. Subsequently, 7 dimensions, 23 components, and 102 indicators were validated and localized with the assistance of 17 experts. In the final stage, these dimensions and components were prioritized with expert input, leading to the extraction of the final framework. The results indicate that fintech-driven blockchain technology enhances value creation in the dimensions of innovation and technology, transparency, security, quality, speed, business models, and collaboration, providing strategic capabilities to financial and banking businesses.