The ROLE OF BLOCKCHAIN TECHNOLOGY IN IMPROVING THE QUALITY OF Iraqi DIGITAL BANKING SERVICES

Abstract

The research aims to highlight the role of using Blockchain technology in improving the performance of banking and financial services provided under of the digital transformation and the changes occurring in the Iraqi business environment that require preparation to protect financial and banking services from exposure to risks. The research problem was represented by the difficulty of measuring the use of Blockchain technology to improve the quality of Iraqi banking and financial services due to the increase in virtual and digital transactions and dealings. The study was designed on a sample of Iraqi banks classified according to The Banker magazine, 2024 edition. It relied on a proposed model to evaluate the banking system based on the use of Blockchain technology to improve digital services and the resulting support for the banking system by providing financial and accounting information capable of limiting the informal economy and placing these transactions to a large extent within an official framework that limits the leakage of income and resources and supports the required banking limitation. The study concluded that Blockchain technology is more appropriate and realistic for the Iraqi banking environment due to the availability of renewed and updated restrictions from the Central Bank of Iraq, which is represented by achieving a banking umbrella for all residents of the State of Iraq who have actual or intermediate transactions and income with the Iraqi state.