What we know and what should we know about the future of blockchain in finance

Abstract

Background In response to the transformative impact of blockchain technology on economic and financial landscapes, there is a critical need for a review study that analyses the knowledge landscape from diverse perspectives. Methods This research VOSviewer, and Bibliometrix to undertake a bibliometric analysis of the expanding literature related to blockchain technology within the financial sector. Through a examination of 500 published articles, the study identifies insightful trends, patterns, and emerging domains on a global scale. Results The findings highlight the advancing trajectory of blockchain research in finance, with a notable concentration of studies originating from the United States and China, both in terms of total publications and citations. Key thematic clusters identified include “smart contracts,” “financial institutions,” “initial coin offerings,” and “big data analytics.” Intersections with financial risk management, digital transformation, and the integration of big data analytics with artificial intelligence and machine learning are particularly noteworthy, marking focal points of exploration. Conclusions While affirming the potential of blockchain, the analysis also sheds light on persistent impediments hindering its widespread adoption and utilization. This study not only contributes to the current understanding of blockchain in finance but also serves as a valuable resource for future researchers. It guides systematic reviews by pinpointing prominent journals and influential authors within the dynamic field of blockchain finance, thereby fostering a deeper understanding and facilitating further exploration in this evolving field.