The effect of blockchain on business intelligence efficiency of banks

Purpose Accurate evaluation of the consequences of new technologies in various industries is of great significance. So, it will be essential to examine the impact of this technology on the banking industry, representing how to create, deliver and gain value in this industry. This study aims to investigate whether blockchain can affect the business intelligence efficiency of banks. This study also aims to examine the impact of security, fraud reduction and privacy of blockchain, equal and anonymous access to the blockchain, decentralization and sustainability of blockchain, accountability and transparency of blockchain, quality, speed and efficiency of blockchain on business intelligence efficiency. Design/methodology/approach Technological changes are creating new challenges and opportunities for various industries. The inability of organizations to adapt to these changes may even lead to their deletion from the market. Blockchain is one of the most critical technologies in recent years. One of the sectors that will undergo significant changes in blockchain technology is the banking industry. According to the reviewed literature in this study, a comprehensive model has been proposed to examine the impact of security, fraud reduction and privacy of blockchain, equal and anonymous access to the blockchain, the decentralization and sustainability of blockchain, accountability and transparency of blockchain and quality, speed and efficiency of blockchain on business intelligence efficiency. A survey method was used to collect data from banks of the Nanjing city. The partial least square technique was used for data analysis. Findings The results showed that the fit of the proposed model was very good. Also, all assumptions except one were confirmed. It means that security, fraud reduction and privacy of blockchain factor have a remarkable and positive impact on all aspects of business intelligence efficiency, namely information technology, employees, competitors and customers. Also, equal and anonymous access to the blockchain factor has a positive and significant effect on all aspects of business intelligence efficiency. The decentralization and sustainability of blockchain factors have an impact on business intelligence efficiency. Also, blockchain's accountability and transparency as a fourth factor have a positive and significant impact on all aspects of business intelligence efficiency. Finally, the last factor (quality, speed and efficiency of blockchain) has a positive and significant effect on information technology, employees and customers' dimensions. But, it does not affect the competitors' dimension, and this hypothesis has not been confirmed. Practical implications This paper offers valuable insight for business intelligence practitioners into how blockchain technology has the potential to disrupt existing business intelligence provisions. Originality/value This paper is one of the first studies to examine the impact of blockchain on IT dimension, organizational employees' dimension, customer dimension and competitors' dimension. It lays a firm foundation for future research.