Examine the Feasibility of Implementing Blockchain Technology in the Sri Lankan Banking System

In the term of digitization, it is important that Banks and Financial organizations stay up to date with new technology. Blockchain science is one specific technology that has become a widely discussed issue when it comes to finance in the mathematical era. The aims of this study are to recognize the factors that influence Blockchain adoption also to identify the likely applications of it in the Sri Lanka banking subdivision. The study applied concerning qualities not quantities research approach. An interview guide was created and investment professionals were interviewed so that understand their take or understanding on Block Chain implementation in the Sri Lanka Banking area. This study discovered that the application of Blockchain electronics for shared KYC, profession finance, and Central Bank Digital Currency (CBDC) was possible. When deploying Blockchain electronics, interoperability problems, supervisory limits, and lack of knowledge were the main obstacles. Additionally, the closeness of Fin Tech companies, the manager's attitude, the service of banks, customers' perceptions, and the investment system's proficiency functioned as incentives to enable specific an adoption. The results and suggestions concerning this study would benefit bankers, educators, and practitioners in their exertions to examine the determinants that affect the adoption of Blockchain electronics. It will also help ruling class to develop feasible solutions for their questions. This will also help authorities like the Central Bank in consideration of create a correct framework for the exercise of block chain technology in the Sri Lanka banking subdivision. The study will contribute to longer the existing drama on Blockchain adoption what it will help to create the much-needed foundation in order to favorably implement Blockchain technology in investment system while set precedence for future research on this extent.

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