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Investigating the Adoption of Blockchain Technology for Cross-Border Payments in the Swedish Financial Industry: A Diffusion Theory Approach through Expert Interviews
Linnaeus University, Faculty of Technology, Department of Informatics.
Linnaeus University, Faculty of Technology, Department of Informatics.
2023 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The adoption of blockchain technology for cross-border payments is not an easy task.However this qualitative study further investigates the connotations associated with adoptionof blockchain in cross-border financial transactions within Swedish financial institutions suchas banks, fintech, and credit management service companies. To answer this question, weinterviewed six participants that work in a credit management company, an open bankingcompany, and a digital mortgage service company using semi-structured interviews. Datacollection was done using this method because the purpose of this research work is to identifypeople's insights and experiences based on their real-life experiences. Data were analyzedusing thematic analysis. Our results showed that the impact of adoption of blockchain incross-border payment transactions in terms of technical implementation challenges,customers' use cases and pilot programs, compliance and security enhancements, industrycollaboration and knowledge sharing, legacy systems integration and interoperability, and keydrivers beyond adoption. In addition, the study findings were compared with the determinantsand influence factors of the model through the lens of the DOI. The implications of this studycould used to help financial institutions' focus on blockchain adoption in cross-borderpayment transactions. As a whole, this study contributes to the idea that financial institutionsshould develop an accurate strategy, as well as guidelines that can assist them in leveragingblockchain technology for cross-border payments, enhancing their services, and fosteringsustainable growth in cross-border digital markets. 

Place, publisher, year, edition, pages
2023. , p. 82
Keywords [en]
Cross border payment transactions, international payments, blockchain technology, blockchain, smart contract, DLT, cryptocurrency, diffusion of innovation theory, thematic analysis, blockchain adoption, financial industry, Qualitative Research, DOI
National Category
Information Systems
Identifiers
URN: urn:nbn:se:lnu:diva-122315OAI: oai:DiVA.org:lnu-122315DiVA, id: diva2:1772069
Subject / course
Informatics
Educational program
Master Programme in Information Systems, 60 credits
Supervisors
Examiners
Available from: 2023-07-04 Created: 2023-06-21 Last updated: 2023-07-13Bibliographically approved

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File name FULLTEXT02.pdfFile size 1165 kBChecksum SHA-512
843fb9077a477a6f1763ff3bb7495c95b5cf6b2ae9f17c62f23c17ec450f7cdf04a36d059faba0b70add3a388683317b5a6ca1678d4300e5ea90df39af3d33ce
Type fulltextMimetype application/pdf

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf