DefinePK

Abstract

This study explores the adoption of blockchain technology in Pakistan’s financial services sector, focusing on its impact on operational efficiency and trust-building mechanisms. The research explores how financial institutions integrate blockchain to enhance the transaction speed, reduce costs, and improve security, especially in cross-border payments. Using a qualitative research approach, semi-structured interviews were conducted with senior executives, finance managers, and technology experts from banks, fintech companies and regulatory bodies. The findings reveal that blockchain adoption significantly reduces transaction times, lowers fees and enhances transparency, thereby increasing trust among customers and institutions. However, challenges such as regulatory uncertainty, infrastructure limitations and a shortage of technical expertise prevail. This research provides valuable insights for financial institutions and policymakers to align blockchain adoption with strategic financial goals in Pakistan’s evolving financial landscape.