Study the Role of Block Chain in Financial Services the Impact of Crypto Currencies on Traditional Banking System and Regulatory Challenges

Authors

  • Syed Nabeel Hassan Jaffery National College of Business Administration and Economics, Lahore, Pakistan
  • Sakhy Mehmood Department of Education, Kahuta Haveli Campus UPR, Pakistan
  • M. Shakeel Ahmed Lecturer, College of Commerce, G.C. University Faisalabad, Pakistan
  • Hassam Gul International Islamic University, Islamabad, Pakistan

DOI:

https://doi.org/10.47067/ramss.v8i1.455

Keywords:

Crypto Currencies, Conventional Banking, Block Chain Technology, Regulatory Challenges, Financial Inclusion, Digital Finance, Pakistan

Abstract

The paper looks into the impact of cryptocurrencies on Pakistan's traditional banking sector regarding issues of regulation, adaptation to technology, and the implications of digital money. The investigation employed a qualitative method and critical thematic analysis in analyzing data gathered through semi-structured interviews conducted with 14 crypto currency investors and 8 banking practitioners. The number of samples in the interview is sufficient enough to explore points of view about major stakeholders' sectors. A thematic analysis technique was used during the identification of patterns and codes on how crypto currency influences banking products, regulation, and implementation of block chain. Conclusion: This study concluded that opportunities for financial inclusivity and convenience exist with crypto currency but some notable issues with its regulation and instability still exist. The insights of the investigation are of useful value in ascertaining how digital money interfaces with conventional banks, which also has implications on future policy as well as the practices of banks.

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Published

2025-01-30

How to Cite

Jaffery, S. N. H., Mehmood, S. ., Ahmed, M. S. ., & Gul, H. (2025). Study the Role of Block Chain in Financial Services the Impact of Crypto Currencies on Traditional Banking System and Regulatory Challenges. Review of Applied Management and Social Sciences, 8(1), 251-262. https://doi.org/10.47067/ramss.v8i1.455