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Research Article 


The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan

Mohammad Salameh Zaid Almahirah.

Abstract
The study aimed to identify the effect of smart blockchain contracts on the financial services industry in the banking sector in Jordan, through an empirical study on the Jordanian banking sector. The study population was represented by the banks in the Jordanian environment, (15) banks were selected with their various branches. As for the study sample, it consisted of (81) including (managers, deputy directors, heads of departments, major clients), representing approximately 67.5% of the total sent questionnaires. A questionnaire was used as an instrument of the study in order to collect data from the study population. The descriptive and analytical approach was used. The study concluded that there is a statistically significant relationship regarding the impact of smart blockchain contracts on the financial services industry in the banking sector in Jordan. It was found also that the smart blockchain contracts help to reduce the cost of Banking services and enhancing operational efficiency in Jordanian banks. Moreover, they enhance and develop banking services and upgrade them in Jordanian banks. In light of the results of the field study, the researcher recommended that Jordanian banks should rely on smart Blockchain contracts in the field of banking sector that will contribute to reducing costs related to remittances and raising the operational efficiency of these banks.

Key words: Blockchain Smart Contracts - Financial Services Industry - Banking Sector in Jordan


 
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Pubmed Style

Mohammad Salameh Zaid Almahirah. The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan. EEO. 2021; 20(5): 1845-1853. doi:10.17051/ilkonline.2021.05.203


Web Style

Mohammad Salameh Zaid Almahirah. The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan. http://ilkogretim-online.org//?mno=60261 [Access: April 09, 2021]. doi:10.17051/ilkonline.2021.05.203


AMA (American Medical Association) Style

Mohammad Salameh Zaid Almahirah. The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan. EEO. 2021; 20(5): 1845-1853. doi:10.17051/ilkonline.2021.05.203



Vancouver/ICMJE Style

Mohammad Salameh Zaid Almahirah. The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan. EEO. (2021), [cited April 09, 2021]; 20(5): 1845-1853. doi:10.17051/ilkonline.2021.05.203



Harvard Style

Mohammad Salameh Zaid Almahirah (2021) The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan. EEO, 20 (5), 1845-1853. doi:10.17051/ilkonline.2021.05.203



Turabian Style

Mohammad Salameh Zaid Almahirah. 2021. The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan. Elementary Education Online, 20 (5), 1845-1853. doi:10.17051/ilkonline.2021.05.203



Chicago Style

Mohammad Salameh Zaid Almahirah. "The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan." Elementary Education Online 20 (2021), 1845-1853. doi:10.17051/ilkonline.2021.05.203



MLA (The Modern Language Association) Style

Mohammad Salameh Zaid Almahirah. "The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan." Elementary Education Online 20.5 (2021), 1845-1853. Print. doi:10.17051/ilkonline.2021.05.203



APA (American Psychological Association) Style

Mohammad Salameh Zaid Almahirah (2021) The Effect of Smart Blockchain Contracts on the Financial Services Industry in the Banking Sector in Jordan. Elementary Education Online, 20 (5), 1845-1853. doi:10.17051/ilkonline.2021.05.203








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