The present quantitative research paper is aimed at exploring how blockchain technology can improve transparency and efficiency of the trade finance sector in Pakistan. Trade finance which is a critical part of the global trade, is still struggling with issues such as fraud, costs of doing business, and processing time caused by old and paper-based systems. This study will survey 40-personnel in the envisaged finance profession and administer a self-enforced Likert-scale query of perceived usefulness of blockchain tools in the context of simplified trade finance operations in the special case of smart contracts. The results indicate the existence of statistically significant correlation between blockchain adoption and fraud decrease, speed of operation, and transparency improvement. The powerful influence of smart contracts on the efficiency of the process and the negative association between blockchain integration and operational risk were proved by regression, ANOVA, and correlation analysis. These findings correspond to existing research provide the new empirical evidence on the situation in another location (a developing economy). The study suggests the need to do additional investments in digital infrastructure, regulatory monitoring, and stakeholder cooperation to promote blockchain introductions in the field of trade finance. Future research can be in the form of a longitudinal study and regional comparison.
Ahmed et al. (Tue,) studied this question.