Identifying Block-chain Windows of Opportunity in Iran’s Banking Industry

Document Type : Original research


1 M.S. in Technology Management, Department of Management and Accounting, University of Tehran (College of Farabi)

2 Assistant Professor at Department of Management and Accounting, University of Tehran (College of Farabi)

3 Assistant Professor, Department of Management and Accounting, University of Tehran (College of Farabi)


Given the complexities, sensitivities, and extent of the banking system, it is necessary to identify the various dimensions of this industry from different perspectives. One of the key points in this field is the introduction of new technologies, recognizing the effects and opportunities resulting from the influence and acceptance of these technologies. As one of the most attractive and emerging technologies, block-chain can potentially change the businesses, roles, and structures of the banking industry. For this purpose, this research aims to identify the windows of opportunity of blockchain technology and its impact on the Iranian banking industry by using a qualitative approach and content analysis method. Therefore, in order to collect data, library studies (research articles, books, and other scientific documents from reputable databases) and field studies (semi-structured interviews with experts in the field of block-chain technology and banking) have been used. The findings of this study that are based on three windows of opportunity (market and demand, technology, policy, and institutional) indicate that elimination of intermediation, decentralized services in the field of authentication, and information sharing can be considered as a window of opportunity for demand. The ability to innovate and adapt to current banking services using the block-chain private network for major players and the block-chain public network for fin-techs is one of the issues associated with technology windows of opportunity. Also, the instructions issued by the Central Bank in the field of cryptocurrencies, international sanctions that, despite creating problems and restrictions, provide an incentive to provide some banking services such as international money transfers have been identified as policy-institutional windows of opportunities


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