Date of Award

Spring 2020

Degree Type



Moore School of Business

Director of Thesis

Dr. Ozgur Ince

Second Reader

Dr. Barbara Bolt


This thesis examines the possibility of using Blockchain technology to permanently change the payment structure of the US banking system. First, I examine the current technology that dominates the banking sector. I introduce the most frequently used payments methods including Automatic Clearing House transfers and wire transfers, both domestically and internationally. In addition, I highlight the major players controlling these transactions. Under the current system, frictions between senders and receivers cause billions of dollars in losses each year.

Next, I examine Blockchain’s roots along with some similar cryptocurrency technology, namely Distributed Ledger Technology and Smart Contracts. The transparency, security, and efficiency offered by the technology behind many cryptocurrencies demonstrates the possibility for rethinking decades-old payment networks.

Finally, to tie together the new and old, I examine case studies that have proven to be successful, within the US and abroad. There have been many projects in testing stages that have shown the possibility of implementing this new tech to the world. As consumer pressure on major payment providers continues, the financial world will continue to adapt and grow, leading to a more connected and optimized payment environment.

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