Abstract

Blockchain technology, initially developed to support cryptocurrencies, has farreaching implications for global financial systems. Its decentralized, immutable, and transparent nature has the potential to revolutionize the way financial transactions are conducted, stored, and verified. Beyond cryptocurrency, blockchain is being explored for its applications in improving efficiency, security, and transparency across various sectors of the financial industry, such as payments, lending, and regulatory compliance. This paper explores the transformative impact of blockchain on financial systems and its relationship with cryptocurrency. By examining the technological, economic, and regulatory aspects, the paper highlights the opportunities and challenges blockchain presents to traditional financial institutions and markets. The integration of blockchain technology is poised to reshape the future of finance by fostering greater decentralization and democratization of financial services.