Blockchain Technology and Its Role in Developing the Performance of Financial Institutions: An Analytical Approach

Abstract

This study aims to analyze the role of blockchain technology as one of the modern financial technology (FinTech) innovations by highlighting its applications in the financial sector and its contribution to improving financial service efficiency, enhancing transparency, and accelerating transactions. The study also examines the key technical, economic, and regulatory challenges facing its adoption, alongside the prospects for its development amid digital transformation. The study concludes that blockchain technology offers promising opportunities for developing financial services; however, capitalizing on its advantages remains contingent upon the ability to overcome its technical and regulatory challenges and provide a conducive environment for its applications.