Unleashing the Power of Blockchain Technology: Fighting Corruption in the Finance Sector

This research paper aims to explore blockchain technology's role in combating corruption in the finance sector, discuss its potential benefits and limitations, and provide recommendations for future research and policy development. The objective of this research paper is to review the current literature, business case studies to explore the role of blockchain in mitigating the corruption in the finance sector. The researchers have conducted a thorough review of peer-reviewed articles from reputed databases like Scopus etc. This detailed review of the relevant literature is aimed to identify the prevailing research on the utility of blockchain in combating corruption in the finance sector. Along with exhaustive review of literature, the paper also explores high-profile case studies of corruption in the finance sector to highlight the importance and urgency of finding effective solutions Also, it details BT, corruption in the finance sector, and the role of blockchain to reduce corruption. Blockchain technology can be a crucial tool in combating corruption in the finance sector by providing a secure, transparent, and efficient method of recording financial transactions. However, it is essential to note that BT is not a sure-shot cure for all corruption-related issues in the finance sector. Significant barriers and issues still need to be addressed, such as interoperability, scalability, regulation, and privacy. This research paper would be helpful to all the stakeholders including government officials and regulators in creating a supportive environment for blockchain technology adoption in the finance sector by ensuring that appropriate regulations are in place to address any potential risks or negative impacts. With continued research and policy development, BT can be a vital instrument in promoting transparency, accountability, and integrity in the finance sector.