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@article{204708,
        author = {Teena Parihar and Dr Payal Khandelwal},
        title = {Assessing the Current State of Blockchain Technology Adoption in Financial Transactions: An Empirical Study of Organizational Implementation and Perceptions in India},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {13},
        number = {1},
        pages = {3586-3593},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=204708},
        abstract = {Blockchain technology has emerged as one of the most transformative innovations in the financial sector, offering enhanced transparency, security, efficiency, and decentralization in financial transactions. The present study examines the current state of blockchain technology adoption in financial transactions by analyzing organizational implementation patterns and perceptions within the Indian financial sector. The study is based on primary data collected from 500 respondents representing various organizations engaged in financial operations and technology-enabled services. Descriptive statistics, frequency analysis, Chi-square tests, and ANOVA were employed to analyze the data. The findings reveal significant differences in the adoption of advanced financial technologies among organizations. While 43.0% of respondents reported that their organizations currently utilize blockchain technology in financial transactions, a substantial proportion either do not use it or are still planning implementation. Payments and settlements emerged as the most prominent application area, followed by asset management and trade finance. The results further indicate mixed perceptions regarding the level of blockchain adoption in India, reflecting both opportunities and challenges in its widespread implementation. The study concludes that blockchain technology is gradually gaining acceptance in the Indian financial ecosystem; however, regulatory uncertainty, technological readiness, awareness, and infrastructure limitations continue to influence adoption decisions. The findings contribute to the growing body of knowledge on digital financial transformation and provide practical insights for policymakers, financial institutions, and technology developers.},
        keywords = {Blockchain Technology, Financial Transactions, FinTech Adoption, Digital Finance, Financial Innovation, Organizational Perception, India, Financial Services.},
        month = {June},
        }