Usage of Blockchain in financial Decision Making: A Comprehensive Literature Review

Abstract

Blockchain technology has revolutionized various industries, with financial decision-making at the forefront of its transformative potential. Blockchain's decentralized, transparent, and immutable nature has provided new paradigms in finance, including cryptocurrencies, smart contracts, decentralized finance (DeFi), and tokenization of assets. This literature review synthesizes findings from research papers published from 2016 onward, examining blockchain's impact on financial decision-making processes, security implications, its role in financial markets, and the challenges to its large-scale adoption. In doing so, the review delves into the benefits and challenges posed by blockchain while identifying potential future trends that will continue to shape financial markets. The review concludes by highlighting blockchain's future in finance and proposing pathways to enhance its adoption in financial decision-making.