Blockchain-Applications in Banking & Payment Transactions: Results of a Survey
Blockchain-Applications in Banking & Payment Transactions: Results of a Survey

Author(s): Peter Haiss, Andreas Moser
Subject(s): Business Economy / Management, ICT Information and Communications Technologies
Published by: Masarykova univerzita nakladatelství
Keywords: blockchain; payment transaction service; cybercrime; electronic banking;
Summary/Abstract: We examine different opportunities to implement the blockchain technology into online payment and sales transaction systems with a focus on the financial sector of the German speaking area in Europe. To this end, we conduct a literature review and conduct a questionnaire survey among payment transaction experts. In addition the advantages and disadvantages are pointed out as well as other applications. Results from the survey suggest that many experts are investigating the new technology, but the efforts made at Austrian, German and Swiss banks are low since there are still many open issues pending. Especially setting up a legal framework for the international treatment of payment transactions based on the blockchain would be an important step.

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