The strategic value creation model of blockchain technology in financial and banking fields

Technological changes lead to the creation of new challenges and opportunities for various industries. The inability of companies to adapt their business model to these changes may even lead to their exit from the market. Therefore, it is very important to accurately evaluate the consequences of new technologies on the business models of various industries. Blockchain has been one of the most important technology trends in recent years. One of the industries that many experts believe will take major changes from blockchain technology is the banking industry. Considering the revolutionary impact that blockchain technology can have on the banking industry. Investigating the impact of this technology on the business model of the banking industry, which represents how to create, provide and acquire value in this industry, will be very important. The general purpose of this article is to present the strategic value creation model of blockchain technology in financial and banking fields. This research is applied in terms of purpose and exploratory in nature. This research was done in three parts, in the first part, the dimensions, components and indicators of the model were prepared from the metacombination approach. In the next step, fuzzy Delphi method was used to identify, evaluate, screen and localize the model. In the final part, Denep technique was used to analyze relationships and their effects. The first stage community including 73 articles out of 849 articles (between 1395 and 1402 for domestic articles and 2016 to 2023 for foreign articles) were selected by systematic review and coded by content analysis method. In the second stage; 7 dimensions, 23 components and 102 indicators were validated and localized with the help of 17 experts, and in the final stage, dimensions and components were prioritized with the help of experts and the final model was extracted. The results of this research stated that the use of blockchain technology can create value for financial and banking businesses in terms of innovation and technology, transparency, security, quality, speed, business models and cooperation, and give them strategic capabilities. As a result, due to the fact that blockchain technology has not found a special place in the banking system of our country, there is a need for decision-making managers to pay attention to this area.