A Comprehensive Investigation for Quantifying and Assessing the Advantages of Blockchain Adoption in Banking Industry

This research is designed to develop metrics for the banking sector to quantify the financial benefits derived from implementing blockchain technology. It emphasizes the importance of security, ethics, and standards in banking operations. Data for this study was sourced from 1012 CEOs or heads of banking institutions engaged in advising, consulting, or using blockchain technology, including blockchain marketers. The robustness of the proposed measurement instrument was evaluated through confirmatory factor analysis (CFA), ensuring the validation of the results and the reliability of the five elements of the instrument. The study confirms the high internal consistency, validity, and reliability of the constructs developed. Despite the nascent stage of blockchain technology, its evolving nature might influence the findings. The research concludes by exploring both theoretical and practical implications, assessing the scientific and societal contributions of the study.