This article examines the role of blockchain technology in modern financial systems, with a focus on its potential to enhance efficiency, security, and economic sustainability in developing countries. Through a comparative analysis of international case studies and a review of recent academic literature, the study identifies key advantages of blockchain implementation, such as reduced transaction costs, increased transparency, and improved access to financial services. Special attention is given to the challenges of adoption, including regulatory barriers, technological infrastructure limitations, and the need for skilled personnel. The paper proposes a phased integration model for blockchain-based solutions in the financial sector, emphasizing public-private partnerships and adaptive regulatory frameworks. The findings suggest that blockchain technology can significantly contribute to financial inclusion and economic resilience, particularly in regions undergoing digital transformation.
Ganieva et al. (Mon,) studied this question.