Banking with blockchain-ed big data
Blockchain is disrupting the banking industry and contributing to the increased bigdata in banking. However, there exists a gap in research and development into blockchain-ed big data in banking from an academic perspective, and this gap is expected to have a significant negative impact on the adoption and development of blockchain technology for banking. In hope of motivating more active engagement by academics, researchers and bankers alike, we present the most comprehensive review of the impact of blockchain in banking to date by summarizing the opportunities and challenges from a bankers perspective. In addition, we also discuss the impact that big data from blockchain will have on banking data analytics in future and show the increasing importance of filtering and signal extraction for the banking industry. Whilst there is evidence of selected banks adopting blockchain technology in isolation or small groups, we find the need for extensive research and development into several aspects of banking with blockchain to overcome the challenges which are currently hindering its adoption in banking across the globe.
The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.
Citation : Hassani, H. Huang, X. and Silva, E. (2018) Banking with blockchain-ed big data. Journal of Management Analytics, 5 (4), pp. 256-275
ISSN : 2327-0012
Research Group : Institute for Applied Economics and Social Value
Research Institute : Institute for Applied Economics and Social Value (IAESV)
Peer Reviewed : Yes