Application of Blockchain Technology in the Financial Services Industry

Abstract: Purpose: The purpose is to improve the understanding of the process of applying blockchain technology in the financial services industry through information published by the most representative companies and institutions in the global landscape. Methodology: Qualitative research has been conducted through secondary data, which has been analyzed by employing thematic analysis. Theoretical perspectives: The study has adopted a conceptual framework developed by Grover (2019) in the work "Perceived usefulness, ease of use and user acceptance of blockchain technology", combined with existing literature and official documentation on blockchain in financial services. Empirical foundation: The companies known as Big Four and other renowned international organizations in the financial services sector are the actors chosen for this thesis. The growing presence of this technology in financial services, the speed of which makes it necessary to filter the amount of information to draw practical conclusions about its application. Conclusion: In financial services Blockchain technology can reduce transaction costs, generate distributed trust, and potentially become a new foundation for decentralized business models, forming the core infrastructure that serves as the basis for the development of a more transparent and inclusive industry.