Blockchain in the banking industry: Unravelling thematic drivers and proposing a technological framework through systematic review with bibliographic network mapping

Abstract

In the new era of adopting and managing new and robust technologies in banking, the use of blockchain technology has significantly transformed overall banking systems. To add new insights to the body of existing knowledge, the authors conducted a systematic review with bibliographic network mapping to identify and analyse the factors contributing to adopting blockchain in the banking industry. Following the latest protocols of the PRISMA flowchart, this study acknowledged 16 relevant publications from 2590 papers in the databases, namely Scopus, ScienceDirect, Web of Science, and IEEE Xplore. The bibliographic data were grouped and analysed using VOSviewer to create network visualization maps that included citation and co-citation, bibliographic coupling, co-authorship, and co-occurrence of terms. Subsequently, significant terms were identified through the analyses and compared with those found in the 16 relevant papers. The aggregate findings suggest that multiple influencing factors have been recognized and later categorized into three thematic drivers: transparency-driven security, collaborative interoperability, and organizational infrastructure. The current research provides valuable insights for policymakers, technologists, researchers, consultants, and practitioners of information systems by proposing a technological framework, which will aid in developing tailored strategies to facilitate the sustainable practice of blockchain in the banking industry to a wider extent.