The Effectiveness of Using Blockchain Technology in Digital Finance to Achieve Cybersecurity and Reduce Costs
DOI:
https://doi.org/10.59890/ijarss.v3i6.61Keywords:
Blockchain, Digital Finance, Cybersecurity, Cost RationalizationAbstract
The world today is witnessing an information revolution and technological advancements accelerating, known as the Information Revolution. Various technologies have entered economic activities, and the issue of regulating digital technologies is a key issue requiring multilateral consideration. Despite the novelty of these technologies, many have sought to implement them to benefit from their economic and technical advantages and improve the level of service. Blockchain technology, both as a currency and as a technology, requires a unified, multilateral approach to regulation. It has also become influential in the field of digital finance, reducing costs, and achieving speed and quality. Therefore, there are several attempts to implement blockchain in financial markets and institutions, identify various current and future challenges, and explore ways to address them. This attempt is an attempt to study a number of variables in the Iraqi banking environment. By demonstrating the relationship and effectiveness of this technology in achieving cybersecurity and how to rationalize costs in digital financial transactions using it.
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