Blockchain’s Impact on Morocco’s Financial Sector: Opportunities and Challenges

The adoption of emerging technologies in the finance industry, such as blockchain, promises to provide new perspectives on data security and business processes. This advanced innovation paves the way for unprecedented financial and organizational optimization, transforming not only processes and str...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:ITM web of conferences 2024, Vol.69, p.1001
Hauptverfasser: Asly, Ishaq, Essabbar, Driss
Format: Artikel
Sprache:eng
Schlagworte:
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
container_end_page
container_issue
container_start_page 1001
container_title ITM web of conferences
container_volume 69
creator Asly, Ishaq
Essabbar, Driss
description The adoption of emerging technologies in the finance industry, such as blockchain, promises to provide new perspectives on data security and business processes. This advanced innovation paves the way for unprecedented financial and organizational optimization, transforming not only processes and structures, but also fundamental paradigms of trust and knowledge. The financial industry faces numerous challenges in combating fraud and embezzlement, due to the complexity and scale of its operations. Therefore, the infrastructure provided by the blockchain system helps reduce costs related to intermediaries, enhances security, and improves trust between stakeholders, thanks to the principle of decentralization and the immutability of its ledger. Furthermore, this technological revolution offers financial actors the ability to create new services and solutions in order to meet the needs of several business activities, especially those with complex supply chains. A perfect use of it, will certainly develop the standards of this industry and stimulate innovative economic growth. Although the blockchain offers substantial opportunities for the financial sector, its potential can only be fully achieved with adequate regulatory support, as a way to steer the system toward a more digital and inclusive economy. After a presentation of blockchain technology and its mode of operation, we will be focusing on its potential in finance and how it might provide creative accounting and financial management solutions.
doi_str_mv 10.1051/itmconf/20246901001
format Article
fullrecord <record><control><sourceid>proquest_doaj_</sourceid><recordid>TN_cdi_proquest_journals_3147147725</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><doaj_id>oai_doaj_org_article_f5dff8d5fbf2447caf49809928f62bb0</doaj_id><sourcerecordid>3147147725</sourcerecordid><originalsourceid>FETCH-LOGICAL-c1831-1a1c06caa3a3b20fa46e3bbb24c00c987c997ed4c6b2663530f3bacd367628be3</originalsourceid><addsrcrecordid>eNpNkc1Kw0AUhYMoWLRP4CbgOjo_ySRxp8WfQqWL6nq4czPTTk1n4ky6cOdr-Ho-idEWKVy4l8Ph3ANfklxQckVJQa9tv0HvzDUjLBc1oYTQo2TEWEkzRury-OA-TcYxrsngKCpBmRgli7vW4xuuwLrvz6-YTjcdYJ96lz774BH9n_pgHTi00KYLjb0PN-m863zot872VscUXJNOVtC22i11PE9ODLRRj_f7LHl9uH-ZPGWz-eN0cjvLkFacZhQoEoEAHLhixEAuNFdKsRwJwboqsa5L3eQoFBOCF5wYrgAbLkrBKqX5WTLd5TYe1rILdgPhQ3qw8k_wYSkh9BZbLU3RGFM1hVGG5XmJYPK6InXNKiOYUmTIutxldcG_b3Xs5dpvgxvqS07zcpiSFYOL71wYfIxBm_-vlMhfGHIPQx7A4D9T2YBb</addsrcrecordid><sourcetype>Open Website</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>3147147725</pqid></control><display><type>article</type><title>Blockchain’s Impact on Morocco’s Financial Sector: Opportunities and Challenges</title><source>DOAJ Directory of Open Access Journals</source><source>EDP Open</source><source>EZB-FREE-00999 freely available EZB journals</source><creator>Asly, Ishaq ; Essabbar, Driss</creator><contributor>Zeroual, A. ; Vanderhaegen, F.</contributor><creatorcontrib>Asly, Ishaq ; Essabbar, Driss ; Zeroual, A. ; Vanderhaegen, F.</creatorcontrib><description>The adoption of emerging technologies in the finance industry, such as blockchain, promises to provide new perspectives on data security and business processes. This advanced innovation paves the way for unprecedented financial and organizational optimization, transforming not only processes and structures, but also fundamental paradigms of trust and knowledge. The financial industry faces numerous challenges in combating fraud and embezzlement, due to the complexity and scale of its operations. Therefore, the infrastructure provided by the blockchain system helps reduce costs related to intermediaries, enhances security, and improves trust between stakeholders, thanks to the principle of decentralization and the immutability of its ledger. Furthermore, this technological revolution offers financial actors the ability to create new services and solutions in order to meet the needs of several business activities, especially those with complex supply chains. A perfect use of it, will certainly develop the standards of this industry and stimulate innovative economic growth. Although the blockchain offers substantial opportunities for the financial sector, its potential can only be fully achieved with adequate regulatory support, as a way to steer the system toward a more digital and inclusive economy. After a presentation of blockchain technology and its mode of operation, we will be focusing on its potential in finance and how it might provide creative accounting and financial management solutions.</description><identifier>ISSN: 2271-2097</identifier><identifier>ISSN: 2431-7578</identifier><identifier>EISSN: 2271-2097</identifier><identifier>DOI: 10.1051/itmconf/20246901001</identifier><language>eng</language><publisher>Les Ulis: EDP Sciences</publisher><subject>Blockchain ; Business process management ; Complexity ; Economic development ; Finance ; Financial management ; Financial services ; Industrial development ; Security ; Supply chains</subject><ispartof>ITM web of conferences, 2024, Vol.69, p.1001</ispartof><rights>2024. This work is licensed under https://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and conditions, you may use this content in accordance with the terms of the License.</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><cites>FETCH-LOGICAL-c1831-1a1c06caa3a3b20fa46e3bbb24c00c987c997ed4c6b2663530f3bacd367628be3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>309,310,314,776,780,785,786,860,2095,4009,23910,23911,25119,27902,27903,27904</link.rule.ids></links><search><contributor>Zeroual, A.</contributor><contributor>Vanderhaegen, F.</contributor><creatorcontrib>Asly, Ishaq</creatorcontrib><creatorcontrib>Essabbar, Driss</creatorcontrib><title>Blockchain’s Impact on Morocco’s Financial Sector: Opportunities and Challenges</title><title>ITM web of conferences</title><description>The adoption of emerging technologies in the finance industry, such as blockchain, promises to provide new perspectives on data security and business processes. This advanced innovation paves the way for unprecedented financial and organizational optimization, transforming not only processes and structures, but also fundamental paradigms of trust and knowledge. The financial industry faces numerous challenges in combating fraud and embezzlement, due to the complexity and scale of its operations. Therefore, the infrastructure provided by the blockchain system helps reduce costs related to intermediaries, enhances security, and improves trust between stakeholders, thanks to the principle of decentralization and the immutability of its ledger. Furthermore, this technological revolution offers financial actors the ability to create new services and solutions in order to meet the needs of several business activities, especially those with complex supply chains. A perfect use of it, will certainly develop the standards of this industry and stimulate innovative economic growth. Although the blockchain offers substantial opportunities for the financial sector, its potential can only be fully achieved with adequate regulatory support, as a way to steer the system toward a more digital and inclusive economy. After a presentation of blockchain technology and its mode of operation, we will be focusing on its potential in finance and how it might provide creative accounting and financial management solutions.</description><subject>Blockchain</subject><subject>Business process management</subject><subject>Complexity</subject><subject>Economic development</subject><subject>Finance</subject><subject>Financial management</subject><subject>Financial services</subject><subject>Industrial development</subject><subject>Security</subject><subject>Supply chains</subject><issn>2271-2097</issn><issn>2431-7578</issn><issn>2271-2097</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2024</creationdate><recordtype>article</recordtype><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><sourceid>DOA</sourceid><recordid>eNpNkc1Kw0AUhYMoWLRP4CbgOjo_ySRxp8WfQqWL6nq4czPTTk1n4ky6cOdr-Ho-idEWKVy4l8Ph3ANfklxQckVJQa9tv0HvzDUjLBc1oYTQo2TEWEkzRury-OA-TcYxrsngKCpBmRgli7vW4xuuwLrvz6-YTjcdYJ96lz774BH9n_pgHTi00KYLjb0PN-m863zot872VscUXJNOVtC22i11PE9ODLRRj_f7LHl9uH-ZPGWz-eN0cjvLkFacZhQoEoEAHLhixEAuNFdKsRwJwboqsa5L3eQoFBOCF5wYrgAbLkrBKqX5WTLd5TYe1rILdgPhQ3qw8k_wYSkh9BZbLU3RGFM1hVGG5XmJYPK6InXNKiOYUmTIutxldcG_b3Xs5dpvgxvqS07zcpiSFYOL71wYfIxBm_-vlMhfGHIPQx7A4D9T2YBb</recordid><startdate>2024</startdate><enddate>2024</enddate><creator>Asly, Ishaq</creator><creator>Essabbar, Driss</creator><general>EDP Sciences</general><scope>AAYXX</scope><scope>CITATION</scope><scope>3V.</scope><scope>7SC</scope><scope>7TB</scope><scope>7U5</scope><scope>7XB</scope><scope>8AL</scope><scope>8FD</scope><scope>8FE</scope><scope>8FG</scope><scope>8FK</scope><scope>ABJCF</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ARAPS</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BGLVJ</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FR3</scope><scope>GNUQQ</scope><scope>H8D</scope><scope>HCIFZ</scope><scope>JQ2</scope><scope>K7-</scope><scope>KR7</scope><scope>L6V</scope><scope>L7M</scope><scope>L~C</scope><scope>L~D</scope><scope>M0N</scope><scope>M7S</scope><scope>P5Z</scope><scope>P62</scope><scope>PIMPY</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PRINS</scope><scope>PTHSS</scope><scope>Q9U</scope><scope>DOA</scope></search><sort><creationdate>2024</creationdate><title>Blockchain’s Impact on Morocco’s Financial Sector: Opportunities and Challenges</title><author>Asly, Ishaq ; Essabbar, Driss</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c1831-1a1c06caa3a3b20fa46e3bbb24c00c987c997ed4c6b2663530f3bacd367628be3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2024</creationdate><topic>Blockchain</topic><topic>Business process management</topic><topic>Complexity</topic><topic>Economic development</topic><topic>Finance</topic><topic>Financial management</topic><topic>Financial services</topic><topic>Industrial development</topic><topic>Security</topic><topic>Supply chains</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Asly, Ishaq</creatorcontrib><creatorcontrib>Essabbar, Driss</creatorcontrib><collection>CrossRef</collection><collection>ProQuest Central (Corporate)</collection><collection>Computer and Information Systems Abstracts</collection><collection>Mechanical &amp; Transportation Engineering Abstracts</collection><collection>Solid State and Superconductivity Abstracts</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>Computing Database (Alumni Edition)</collection><collection>Technology Research Database</collection><collection>ProQuest SciTech Collection</collection><collection>ProQuest Technology Collection</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>Materials Science &amp; Engineering Collection</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest Central UK/Ireland</collection><collection>Advanced Technologies &amp; Aerospace Collection</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Technology Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>Engineering Research Database</collection><collection>ProQuest Central Student</collection><collection>Aerospace Database</collection><collection>SciTech Premium Collection</collection><collection>ProQuest Computer Science Collection</collection><collection>Computer Science Database</collection><collection>Civil Engineering Abstracts</collection><collection>ProQuest Engineering Collection</collection><collection>Advanced Technologies Database with Aerospace</collection><collection>Computer and Information Systems Abstracts – Academic</collection><collection>Computer and Information Systems Abstracts Professional</collection><collection>Computing Database</collection><collection>Engineering Database</collection><collection>Advanced Technologies &amp; Aerospace Database</collection><collection>ProQuest Advanced Technologies &amp; Aerospace Collection</collection><collection>Publicly Available Content Database</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central China</collection><collection>Engineering Collection</collection><collection>ProQuest Central Basic</collection><collection>DOAJ Directory of Open Access Journals</collection><jtitle>ITM web of conferences</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Asly, Ishaq</au><au>Essabbar, Driss</au><au>Zeroual, A.</au><au>Vanderhaegen, F.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Blockchain’s Impact on Morocco’s Financial Sector: Opportunities and Challenges</atitle><jtitle>ITM web of conferences</jtitle><date>2024</date><risdate>2024</risdate><volume>69</volume><spage>1001</spage><pages>1001-</pages><issn>2271-2097</issn><issn>2431-7578</issn><eissn>2271-2097</eissn><abstract>The adoption of emerging technologies in the finance industry, such as blockchain, promises to provide new perspectives on data security and business processes. This advanced innovation paves the way for unprecedented financial and organizational optimization, transforming not only processes and structures, but also fundamental paradigms of trust and knowledge. The financial industry faces numerous challenges in combating fraud and embezzlement, due to the complexity and scale of its operations. Therefore, the infrastructure provided by the blockchain system helps reduce costs related to intermediaries, enhances security, and improves trust between stakeholders, thanks to the principle of decentralization and the immutability of its ledger. Furthermore, this technological revolution offers financial actors the ability to create new services and solutions in order to meet the needs of several business activities, especially those with complex supply chains. A perfect use of it, will certainly develop the standards of this industry and stimulate innovative economic growth. Although the blockchain offers substantial opportunities for the financial sector, its potential can only be fully achieved with adequate regulatory support, as a way to steer the system toward a more digital and inclusive economy. After a presentation of blockchain technology and its mode of operation, we will be focusing on its potential in finance and how it might provide creative accounting and financial management solutions.</abstract><cop>Les Ulis</cop><pub>EDP Sciences</pub><doi>10.1051/itmconf/20246901001</doi><oa>free_for_read</oa></addata></record>
fulltext fulltext
identifier ISSN: 2271-2097
ispartof ITM web of conferences, 2024, Vol.69, p.1001
issn 2271-2097
2431-7578
2271-2097
language eng
recordid cdi_proquest_journals_3147147725
source DOAJ Directory of Open Access Journals; EDP Open; EZB-FREE-00999 freely available EZB journals
subjects Blockchain
Business process management
Complexity
Economic development
Finance
Financial management
Financial services
Industrial development
Security
Supply chains
title Blockchain’s Impact on Morocco’s Financial Sector: Opportunities and Challenges
url https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-26T17%3A31%3A31IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_doaj_&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Blockchain%E2%80%99s%20Impact%20on%20Morocco%E2%80%99s%20Financial%20Sector:%20Opportunities%20and%20Challenges&rft.jtitle=ITM%20web%20of%20conferences&rft.au=Asly,%20Ishaq&rft.date=2024&rft.volume=69&rft.spage=1001&rft.pages=1001-&rft.issn=2271-2097&rft.eissn=2271-2097&rft_id=info:doi/10.1051/itmconf/20246901001&rft_dat=%3Cproquest_doaj_%3E3147147725%3C/proquest_doaj_%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=3147147725&rft_id=info:pmid/&rft_doaj_id=oai_doaj_org_article_f5dff8d5fbf2447caf49809928f62bb0&rfr_iscdi=true