This document discusses a study on the influence and transformation of blockchain and financial technology in the finance sector. The study used surveys and secondary sources to collect data on views and adoption of blockchain. The objectives were to understand how blockchain can replace transactions, eliminate data redundancy issues, and learn the challenges of using blockchain technology. Challenges identified included increasing complexity as transactions grow, vulnerabilities, and high implementation costs.

1. COURSE :
GROUP MEMBERS:

2. PROJECT
BACKGROUND
For banking and finance companies and consumers,
blockchain can enhance transaction accessibility,
simplicity, reliability, and safety while also lowering
costs (Fanning & Centers, 2016).
Transactions from one financial institution to the
other used to take up over a week to transmit, now,
thanks to block chain technology, they are done
quickly.
Transactions are made smoother, simpler, and more
efficient with the usage of digital currency and
distributed ledger technology.

3. PROJECT
BACKGROUND
For all parties concerned, block chain technology cuts a
substantial amount of time and resources. It has also
eliminated the need for intermediate and back-office workers
because transactions are processed promptly (Knezevic,,
2018).
The most significant benefit of block chain technology is
"cross-border payments," which is the concept of constructing
a worldwide network using blockchain that is both cost-
effective and completely accessible. It is reducing down costs
and giving additional benefits to customers (Smith & Dhillon,
2019).

4. DATA
SOURCES
The survey technique was used in this study. Because a
significant amount of information can be collected to
understand the present situation in Blockchain technological
development, sales, and widespread adoption, the survey
was the most suitable research approach. Apart from the
respondents' comprehensive data, open-ended queries were
used to tailor each interviewee's story.
Secondary data sources like infographics, books,
magazines, websites, newspapers were also used to collect
data.

5. DATA
SNAPSHOTS
(Altcointradingsignal, 2018).
(Juniperresearch, 2021)

6. OBJECTIVES
THE INFLUENCE AND TRANSFORMATION OF
BLOCKCHAIN AND FINANCIAL TECHNOLOGY
RESPECTIVELY IN THE FINANCE SECTOR,
AS WELL AS THE MAIN ASPECTS OF SUCH
TECHNOLOGY.
UNDERSTANDING HOW BLOCKCHAINS CAN
BE USED TO REPLACE ANY COMMERCIAL
ACTIVITY BASED ON TRANSACTIONS IN
CURRENT ORGANIZATIONAL SYSTEMS,
WHICH UNDERPINS PRACTICALLY EVERY
CONSUMER BANKING OPERATION.

7. OBJECTIVES
Learning how Block chain technology will eliminate
significant data redundancy, which creates difficulties,
disputes, and misunderstanding in many facets of
financial sector.
The range of difficulties and concerns faced while
using Blockchain technology.

8. One goal of this study was to figure out what comprises
information hiders' views, normative beliefs, and individual's
behavioral control when it comes to Blockchain information
concealment. The researchers want to double-check that this is
a problem that affects all industries and nations. These
discussions could provide valuable information based on
knowledge of their industry, region, or even both. The research
of those three key causes of "knowledge hiding intentions"
could lead to a more in-depth insight.
Examining the findings for the most important research
questions.

9. To acquire a more in-depth grasp of what the
evidence implies, categorize the questions.
So, when it comes to bringing up a successful
final draft, we'll know exactly what information
we'll need to address the main questions.
Determining distinct demographic subgroups
by dividing the responses is one of the most
critical components of comprehending the
relevance of the data and figuring out what we
need to do to develop.

10. CHALLENGES
As the volume of transactions grows, the Blockchain gets more
comprehensive. Due to its complexity, encryption, and dispersed
architecture, experts believe that Blockchain transactions will
take some time to establish.
Programs based on blockchain technology are susceptible.
Blockchain is vulnerable to collusive self-centered miner
assaults, as well as a variety of other threats, demonstrating that
it is not completely safe.
Big data applications can have greater implementation and
operating requirements than long-term operational costs for
electronic money transactions and transaction records. The
amount of processing power necessary to run Blockchain is
increasing exponentially.

11. TIMELINE
Challenges
Analysis Plan
Objectives
Data Sources
Project Background

12. REFERENCES
 Altcointradingsignal. (2018). Retrieved 14 July 2021, from https://www.altcointradingsignal.com/wp-content/uploads/2018/06/altcoin-trading-
infographic-scaled.jpg
 Fanning, K., & Centers, D. P. (2016). Blockchain and its coming impact on financial services. Journal of Corporate
Accounting & Finance, 27(5), 53-57.
 Juniperresearch. (2021). Retrieved 14 July 2021, from https://www.juniperresearch.com/getmedia/ebd94c0b-7805-4d05-9670-
2486b562b6c5/blockchain-fintech-summary-and-key-takeaways-2019.png.aspx?width=850&height=1128&ext=.png
 Knezevic, D. (2018). Impact of blockchain technology platform in changing the financial sector and other
industries. Montenegrin Journal of Economics, 14(1), 109-120.
 Smith, K. J., & Dhillon, G. (2019). Assessing blockchain potential for improving the cybersecurity of financial
transactions. Managerial Finance.