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I HAVE ATTACHED MY WORK AND I NEED IT AMENDED TO FIT THE BELOW CORRECTIONS.IT SHOULD ALSO BE IN THE QUALITATIVE DISERTATION FORMAT.PLEASE ATTEND TO ALL THE BELOW REQUIREMENTS WHEN AMENDING THE PAPER.
1.Writing lacks a connection between ideas, and there is no logical progression of the arguments.
2.My recommendations include:
1) You will want to follow the qualitatative template EXACTLY:
The problem is…..
The purpose of the qualitative study…..
****You will want to replace ‘mixed method’ with ‘qualitative’, as well.REPLACED
2) Make sure to identify specific theoretical models – one or more (which model(s) will be used when discussing technological innovation and financial intermediation – theories?
3) Make sure the research question(s) are designed for qualitative research.
4) Please be specific with the type of research tools to be used to analyze data for qualitative.
7/23/24:
I did not see an update for the above #1, #2.
Additionally for the research design, I see the discussion around the survey BUT HOW will you analyze the survey data?
For example: thematic analysis, phenomenological analysis, comparative analysis?
Additionally, I see where you changed some of the wording to ‘qualitative’ but just so you know – you did NOT change the Level Two Heading that still reads ‘Mixed Methods’.
For the dissertation, please keep in mind:
1) EVERYTHING that is NOT common knowledge must have scholarly support.
The Impact of Financial Technology on Finance and Banking: The Use of Blockchain and
Cryptocurrency
Sandra Chombela
June 8th, 2024.
The Impact of Financial Technology on Finance and Banking: The Use of Blockchain and
Cryptocurrency
Blockchain technology, often a decentralized ledger, is a revolutionary advancement in
digital record-keeping. At its core, blockchain is a distributed database that allows for secure,
transparent, and tamper-proof recording of transactions across a network of computers. Each
transaction is grouped into a block, and these blocks are linked together in a chronological chain,
creating an immutable record. The decentralized nature of blockchain ensures that no single
entity controls the entire database, enhancing security and reducing the risk of fraud (Khatwani
et al., 2023). This transparency and security make blockchain a foundational technology with
applications far beyond its original use case in cryptocurrencies.
Cryptocurrencies, the most well-known application of blockchain technology, are digital
or virtual currencies that use cryptography for security. Unlike traditional fiat currencies issued
by governments, cryptocurrencies operate on decentralized platforms, primarily leveraging
blockchain technology to record transactions. Bitcoin, introduced by an anonymous entity known
as Satoshi Nakamoto in 2008, was the first cryptocurrency, setting the stage for developing
numerous other digital currencies. Cryptocurrencies enable peer-to-peer transactions without
intermediaries like banks, potentially reducing transaction costs and increasing financial
inclusion. The relationship between blockchain and cryptocurrency is symbiotic: Blockchain
provides the secure and transparent infrastructure necessary for cryptocurrencies to function,
while the widespread use of cryptocurrencies drives advancements and adoption of blockchain
technology (Nakamoto, 2008). This interconnection highlights the transformative potential of
these technologies in reshaping the financial sector and other industries.
Problem Statement
The issue needs to be more profound knowledge about the overall influence of
blockchain and cryptocurrency on conventional banking and financial activities. From the above
literature review, it is evident that there needs to be more research on the practical and theoretical
aspects of these technologies in finance. Although the concepts of blockchain and
cryptocurrency are rapidly being adopted in different fields, the potential benefits of the two, as
well as the potential risks, have to be further explained (Chetcuti Cauchi & Mifsud Parker,
2018).
Purpose Statement
The Qualitative study explores the effects of blockchain technology and cryptocurrency
adoption on financial transaction efficiency and security among global financial institutions.
Through qualitative interviews in this research paper, the intent is to present a comprehensive
picture of the influence of such emerging technologies on the existing banking models. The
research aims to establish how blockchain and cryptocurrencies work and the opportunities,
risks, and legal concerns relating to the financial industry. The complex concerns, namely
blockchain, and cryptocurrency, will be discussed as various self-organized nets that enable
protected, transparent, and fast monetary transfers, excluding mediators.
Significance of the Study
Theoretical Significance
The study will help update current theoretical models concerning technological
innovation and financial intermediation using the newest tendencies in fintech. It aims to
discover how advancements in the theory and application of blockchain and cryptocurrency
affect the financial sector, enhancing the comprehension of disruptive technologies.
Empirical Significance
The study’s results can be a handy guide to similar studies concerning research
methodologies in the fintech context. By providing the current analysis for theoretical models’
practical application, this research enhances the empirical base of the financial technology field.
The study also offers beneficial knowledge for policymakers and banking industry savvy on the
possibilities of blockchain and cryptocurrency and the potential challenges. This information
helps create ideal policies and business strategies that can optimize these technologies to support
the growth of financial services.
Research Questions
These questions address the core issues related to the impact of blockchain and
cryptocurrency in finance:
•
RQ1: How has blockchain technology transformed the efficiency and
transparency of financial transactions?
•
RQ2: What are the perceived benefits and challenges of adopting
cryptocurrency in banking?
Research Design Mixed Methods
Description
This research applies a quantitative and qualitative approach through questionnaires and
interviews. The qualitative survey entails administering closed-ended questionnaires to financial
analysts, banking specialists, and fintech start-ups. The qualitative part involves administering
focused group discussions to a certain number of respondents who participated in the survey.
Rationale
The qualitative surveys will give generalizable data on the use of Blockchain and
Cryptocurrency and its effects, and the questionnaires will offer the detailed information needed
to expound on the numerical results. This method guarantees a thorough and complex
examination of the research questions.
REFERENCES
Chetcuti Cauchi, M., & Mifsud Parker, P. (2018). The Impact of Blockchain on the Financial Services
Sector
Khatwani, R., Mishra, M., Bedarkar, M., Nair, K., & Mistry, J. (2023). Impact of Blockchain on
Financial Technology Innovation in the Banking, Financial Services and Insurance (BFSI) Sector
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Available:
https://bitcoin.org/bitcoin.pdf (accessed on July 6, 2024).
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Available:
https://bitcoin.org/bitcoin.pdf (accessed on July 6, 2024).
