Blockchain in Stock Market Transformation: A Systematic Literature Review


  • Deona Noble
  • Kanchan Patil



Blockchain, which is the core technology for Bit coin and other digital currencies, is a disruptive technology, especially in the Stock Exchange Market. Although blockchain has much potential in transforming the traditional stock exchange market, blockchain research in this field is still in its infancy. Business scholars began publishing studies related to blockchain in the Stock market transformation in 2015. In this research, we did a PRISMA guided systematic literature review of blockchain in the Stock market transformation from 2015 to 2019. The results show that even though there is an increase in studies, more empirical research is required to utilize the potential of blockchain technology fully. The findings also provide important insights into the current state of a blockchain scholarly study, including its top advantages and legal obstacles, the risk associated with implementing this technology, and the identification of various promising blockchain models currently being proposed in the stock market. We find that blockchain transforms the stock market remains in an early-stage research domain in terms of theoretical basis, methodological diversity, and empirically grounded work. Hence, this research identifies the research gaps and highlights areas where we need a further study that researchers can utilize.