BLOCKCHAIN IN FINANCIAL MANAGEMENT: EMERGING TRENDS AND CHALLENGES

Abstract

The integration of blockchain technology in financial management is revolutionizing traditional financial operations through enhanced transparency, security, and efficiency. This paper explores emerging trends and challenges associated with the application of blockchain in financial domains, including accounting, auditing, asset management, and cross-border transactions. The decentralized and immutable nature of blockchain is transforming record-keeping, reducing fraud, and streamlining compliance processes. Key trends such as the rise of decentralized finance (DeFi), tokenization of assets, and smart contract-based automation are discussed in depth. However, widespread adoption faces critical challenges including regulatory uncertainties, scalability issues, integration with legacy systems, and concerns over energy consumption. This review emphasizes the need for a balanced approach that addresses technological, legal, and organizational barriers while leveraging blockchain’s potential to redefine financial management practices.