DC FieldValueLanguage
dc.contributor.authorKonstantoulaki, Kleopatra-
dc.contributor.authorChristodoulou, I.-
dc.contributor.authorNazarian, A.-
dc.contributor.authorRizomyliotis, Ioannis-
dc.contributor.authorBihn, D.T.-
dc.date.accessioned2024-02-26T14:06:58Z-
dc.date.available2024-02-26T14:06:58Z-
dc.date.issued2023-
dc.identifiergoogle_scholar-yyQZj_QAAAAJ:_Qo2XoVZTnwC-
dc.identifier.issn1741-0398-
dc.identifier.otheryyQZj_QAAAAJ:_Qo2XoVZTnwC-
dc.identifier.urihttps://uniwacris.uniwa.gr/handle/3000/1177-
dc.description.abstractEmploying an interpretivist approach, this study investigates the potential success of blockchain technology in the remittance industry. Data was collected from blockchain experts with extensive experience, providing compelling evidence that blockchain technology is indeed revolutionizing the remittance sector. Despite rapid growth in the global remittance sector, the cost and time associated with sending remittances remain high. While other industries have benefited from technological advancements, the remittance industry has lagged behind. Blockchain technology, renowned for its disruptive impact on emerging industries, offers a decentralized and secure mechanism for containing, storing, and managing information. By leveraging rapid block confirmations, blockchain reduces settlement times in remittance transactions and requires only a crypto wallet for transferring value between parties. For practitioners, the analysis highlights a unanimous consensus among experts regarding the transformative potential of blockchain technology in revolutionizing the remittance industry. This consensus serves as a strong impetus for practitioners to swiftly adopt blockchain-based solutions, capitalizing on opportunities such as stable coin issuance, elimination of intermediaries in foreign exchange trading, access to liquidity, and the exploration of new business models. Proactively addressing challenges like congestion and limited reach will ensure successful integration. The implications for theorists are profound, as the study validates existing theoretical frameworks, identifies specific pain points, and explores exciting opportunities presented by blockchain technology. Finally, we provide a roadmap for future research and innovation. By bridging theory and practice, this study sets the stage for advancement, fostering knowledge, innovation, and the successful integration of blockchain technology in the remittance industry.en_US
dc.language.isoenen_US
dc.publisherEmerald Publishing Limiteden_US
dc.relation.ispartofJournal of Enterprise Information Managementen_US
dc.sourceJournal of Enterprise Information Management, 2023-
dc.subjectBlockchain technologyen_US
dc.subjectRemittance industryen_US
dc.subjectBlockchain transformative potentialen_US
dc.subjectDigital transaction feesen_US
dc.subjectDigital resilienceen_US
dc.titleTransforming the remittance industry: Harnessing the power of blockchain technologyen_US
dc.typeArticleen_US
dc.relation.deptDepartment of Early Childhood Education and Careen_US
dc.relation.facultySchool of Administrative, Economics and Social Sciencesen_US
dc.linkhttps://westminsterresearch.westminster.ac.uk/item/w7192/transforming-the-remittance-industry-harnessing-the-power-of-blockchain-technologyen_US
dc.collaborationUniversity of West Attica (UNIWA)en_US
dc.subject.fieldSocial Sciencesen_US
dc.journalsSubscriptionen_US
dc.publicationPeer Revieweden_US
dc.countryGreeceen_US
item.fulltextNo Fulltext-
item.grantfulltextnone-
item.openairetypeArticle-
item.languageiso639-1en-
item.cerifentitytypePublications-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
crisitem.author.deptDepartment of Early Childhood Education and Care-
crisitem.author.deptDepartment of Business Administration-
crisitem.author.facultySchool of Administrative, Economics and Social Sciences-
crisitem.author.facultySchool of Administrative, Economics and Social Sciences-
crisitem.author.orcid0000-0002-0481-3637-
crisitem.author.orcid0000-0002-3516-0050-
crisitem.author.parentorgSchool of Administrative, Economics and Social Sciences-
crisitem.author.parentorgSchool of Administrative, Economics and Social Sciences-
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