Elevating Entrepreneurial Performance In Banking Institutions Through Blockchain Technology: The Upcoming Financial Revolution

Abstract

This research aims to identify the impact of blockchain technology on the entrepreneurial performance of banking institutions in the Iraqi market and to explore the expected financial transformation in this sector. An experimental study was conducted that included a sample of 144 experts in the fields of banking and technology. Data was collected and analyzed using statistical methods and quantitative analysis tools. The study revealed that the use of blockchain technology in banking institutions in Iraq can significantly improve entrepreneurial performance. Payment settlement processes, risk management, data security, and customer interaction are all improved through the application of blockchain technology. Moreover, innovative banking services have been facilitated, leading to increased customer satisfaction. The study also recommends that banking institutions in Iraq should invest significantly in blockchain technology and integrate it into their operations to improve entrepreneurial performance. Appropriate training and awareness programs should be provided to professionals in both banking and technology fields to enhance their understanding and maximize the benefits of blockchain technology. Based on the results and statistical analysis, the study recommends a number of important points. First, banking institutions must invest in blockchain technology and integrate it into their banking systems and operations to achieve multiple benefits, including improving efficiency, reducing costs, and increasing transparency and security. Employees should also be educated and trained to use blockchain technology effectively, and there should be clear and appropriate regulatory and legal frameworks to regulate the use of blockchain technology in banking institutions, in order to ensure compatibility with legal standards and protect the rights of customers and investors. The most important conclusions of the study indicate that technology Blockchain will be the next financial revolution in the banking sector, and improving the entrepreneurial performance of banking institutions can be achieved by using this technology effectively and sustainably.