THE EFFECT OF BLOCK CHAIN TECHNOLOGY ON THE OPERATIONS AND PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA ( A CASE STUDY OF FIRST BANK OF NIGERIA)
Abstract
ABSTRACT
This study investigated the effect of blockchain technology on the operations and gfinancial performance of First Bank of Nigeria with a focus on two prominent cryptocurrencies, Bitcoin and Ethereum. The research explored how these digital cryptocurrencies. Bitcoin and Ethereum. The research explored how these digital currencies impact key financial indicators such as return on asset (ROA). Adopting an ex-post factor research design, the study relies on secondary data sourced from the financial reports of First Bank of Nigerian spanning from 214 to 2023. Descriptive statistics, correlation analysis, and ordinary Least squares (OLS) regression was utilized the data and test the hypotheses. The research aims to determine the significance of Bitcoin and Ethereum on the financial performance of commercial banks, as well as the challenges and opportunities associated with integration block chain technology into traditional banking systems. While Bitcoin’s integration is expected to yield some negative effects on performance due to its violatility. Ethereum’s role in enhancing operational efficiency through smart contracts is explored. The findings provide insights into the implications of crypto currency adoption in Nigerian banking, offering valuable recommendations for banks and regulators on hoe to navigate the evolving digital financial landscape. The study contributed to the limited body of knowledge on blockchain technology’s role in Nigeria Banking systems.
Full-Text Access Notice
In accordance with the NERD Policy on promoting peer-reviewed publication, public access to the full text of a project, thesis or dissertation is restricted for three years, allowing the author and supervisors sufficient time to pursue peer-reviewed publication.
During this period, researchers with legitimate academic or research purposes may request authorisation directly from the author to enable NERD to release the indexed full texts of the work using the form below.