ABSTRACT
Distributed ledger technology (DLT), epitomized by blockchain, has emerged as a revolutionary force that is transforming the financial industry and the broader economy. DLT is a decentralized and transparent system that allows for secure and immutable recording of transactions across a network of nodes, without the need for intermediaries. This study adopted the structural equation model to examine the adoption of distributed ledger, and blockchain has a significant impact on banking and financial services. This study provides an overview of how DLT is unleashing its potential to reshape the financial industry and the wider economy and also highlights the various ways in which DLT has transformed the banking and financial services landscape. The study concluded that DLT has the potential to disrupt traditional financial systems by offering enhanced efficiency, transparency, security, and accessibility. The study also found that DLT enables faster, cheaper, and borderless transactions, eliminating the need for intermediaries such as banks, reducing transaction fees, and increasing financial inclusion, particularly in developing countries.
