The study was purposed to develop the model structure for Blockchain technology and cryptocurrency, and determine the factors that influence the adoption of Blockchain technology and cryptocurrency in Zimbabwe in order to make value-adding contributions to the cybersecurity risk management of the financial services sector. Cybersecurity is the collection of policies, techniques, technologies, and processes that work together to protect the confidentiality, integrity, and availability of computing resources, networks, software, programs, and data from attack. Cybersecurity threats have thus shifted from the cryptocurrency to attacking platforms using the cryptocurrency such as crypto exchanges. Essentially, there would be no bitcoin without Blockchain but Blockchain exists without bitcoin.The entire system works with a distributed ledger technology that operates on a decentralized pattern. The blockchain is distributed and highly available, exhibits irreversibility and immutability, and eliminates intermediaries in banking sector. For the Blockchain to function fully, it requires components such as the Node, Transaction, Block as a data structure, Chain of the blocks, Miners to perform the block verification process, and Consensus (consensus protocol).
The Mixed Method methodology was used. The research utilized focus groups and document analysis to gather knowledge on the subject. A survey was conducted which included distribution of questionnaires and conducting interviews with heads of the banking sector.
Inhaltsverzeichnis (Table of Contents)
- 1.0 Introduction
- 1.1 Background
- 1.2 Statement of the Problem
- 1.3 Research Objectives
- 1.4 Research Questions
- 1.5 Significance of the Study
- 2.0 Review of the Literature
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research aims to develop a model structure for blockchain technology and cryptocurrency in Zimbabwe's financial services sector, focusing on its contribution to cybersecurity risk management. It also seeks to identify factors influencing the adoption of this technology in the country.
- Cybersecurity risks in the context of blockchain and cryptocurrency.
- The model structure of blockchain technology and cryptocurrency.
- Factors influencing the adoption of blockchain technology in Zimbabwe.
- The relationship between blockchain technology and cryptocurrency.
- The impact of blockchain technology and cryptocurrency on service delivery in Zimbabwe.
Zusammenfassung der Kapitel (Chapter Summaries)
1.0 Introduction: This introductory chapter establishes the context for the study, defining cybersecurity and highlighting the growing importance of blockchain technology and cryptocurrency in a global context. It particularly emphasizes the challenges and opportunities presented by these technologies in Zimbabwe, where currency instability and underdeveloped cybersecurity systems present unique concerns. The chapter outlines the research objectives and questions guiding the study. It introduces the concept of blockchain as a distributed ledger technology offering a solution to various cybersecurity challenges and the complexities of Zimbabwe's financial landscape. Finally, it posits the core purpose of the paper: developing a model for blockchain technology and cryptocurrency within the context of Zimbabwean cyber risks and value creation.
1.1 Background: This section provides a detailed overview of cybersecurity, its various forms, and the increasing need for secure digital transactions in the age of the internet and the Internet of Things (IoT). The chapter explores the rapid global adoption of cryptocurrency, particularly Bitcoin, its benefits and the inherent cybersecurity uncertainties associated with it. It discusses Zimbabwe's history of currency instability and the challenges in adopting new digital currencies, highlighting the country's vulnerability to cybersecurity threats due to its underdeveloped systems. This lays the groundwork for understanding the research’s relevance and its focus on Zimbabwe’s specific context.
1.2 Statement of the Problem: This section clearly defines the research problem. It examines the vulnerabilities of decentralized digital currencies like Bitcoin to cyberattacks and highlights the lack of robust cybersecurity infrastructure in Zimbabwe. It directly addresses the gap between the technological potential of blockchain and the existing limitations within Zimbabwe's financial system. This section emphasizes the urgency for a secure and efficient solution, given the increasing use of digital technologies and the vulnerabilities of the existing system.
1.3 Research Objectives: This chapter lays out the clear and concise objectives of the research. It outlines the key goals of the study: to evaluate the performance of blockchain technology and cryptocurrency within Zimbabwe's cybersecurity system; determine the relationship between these technologies; assess their impact on service delivery; and identify factors influencing the adoption of blockchain in Zimbabwe. These objectives provide a roadmap for the subsequent chapters and ensure the research stays focused and delivers on its promises.
1.4 Research Questions: This section translates the research objectives into specific research questions, which serve as the guiding framework for data collection and analysis. Each question directly addresses one aspect of the research problem, allowing for a systematic and thorough investigation of the topic. The questions focus on practical assessments and measurable outcomes, providing a concrete basis for evaluating the research's findings.
1.5 Significance of the Study: This section emphasizes the practical implications and value of the research. It highlights the potential benefits of the study for banks, regulators, and law enforcement agencies in Zimbabwe. The potential to improve service delivery, enhance regulatory compliance and strengthen the country's cybersecurity infrastructure is discussed. This section emphasizes the study's contribution to a more secure and efficient financial system.
2.0 Review of the Literature: This chapter delves into existing literature on the trends in blockchain and cryptocurrency adoption. It explores challenges such as liquidity, volatility, and classification complexities of cryptocurrencies as digital or virtual currencies, drawing on various academic perspectives. It also examines differing jurisdictional approaches to the regulatory classification of cryptocurrency, highlighting the international diversity in its legal status and the ongoing debate around its value and function. The review provides a broad understanding of the current discourse and positions the research within the existing body of knowledge.
Schlüsselwörter (Keywords)
Cybersecurity, Blockchain Technology, Cryptocurrency, Bitcoin, Cryptojacking, Distributed Ledger Technology (DLT), Zimbabwe, Financial Services, Cyber Risk Management, Central Bank Digital Currency (CBDC).
Frequently Asked Questions: A Comprehensive Language Preview on Blockchain Technology and Cryptocurrency in Zimbabwe
What is the overall topic of this research preview?
This preview presents a comprehensive overview of research on the application of blockchain technology and cryptocurrency within Zimbabwe's financial services sector, focusing on its implications for cybersecurity risk management and adoption factors.
What are the key themes explored in this research?
The research delves into cybersecurity risks related to blockchain and cryptocurrency, the model structure of this technology, factors influencing its adoption in Zimbabwe, the relationship between blockchain and cryptocurrency, and the technology's impact on service delivery in the country.
What is included in the Table of Contents?
The table of contents covers an introduction (including background, problem statement, objectives, research questions, and significance), a literature review, and implicitly further chapters detailing methodology, results, discussion, and conclusion (not explicitly shown in this preview).
What is the main research objective?
The primary objective is to develop a model structure for blockchain technology and cryptocurrency within Zimbabwe's financial services sector, emphasizing its contribution to cybersecurity risk management and identifying factors impacting its adoption.
What are the key chapters and their summaries?
The preview summarizes the introductory chapter (setting the context, defining the problem, and outlining objectives), a background chapter (detailing cybersecurity issues and Zimbabwe's context), a problem statement chapter, a chapter on research objectives and questions, and a chapter on the study's significance. It also previews a literature review chapter exploring existing research on blockchain and cryptocurrency adoption.
What are the key challenges highlighted in the research?
The research highlights cybersecurity vulnerabilities associated with decentralized digital currencies in the context of Zimbabwe's underdeveloped cybersecurity infrastructure and currency instability. It also addresses the challenges of integrating blockchain technology into existing systems and the regulatory complexities surrounding cryptocurrency.
What is the significance of this research?
The research aims to contribute to a more secure and efficient financial system in Zimbabwe. Its findings could benefit banks, regulators, and law enforcement agencies by improving service delivery, enhancing regulatory compliance, and strengthening cybersecurity infrastructure.
What keywords are associated with this research?
The keywords include cybersecurity, blockchain technology, cryptocurrency, Bitcoin, cryptojacking, distributed ledger technology (DLT), Zimbabwe, financial services, cyber risk management, and central bank digital currency (CBDC).
What type of audience is this research preview intended for?
This preview is intended for an academic audience, including researchers, students, and professionals interested in blockchain technology, cryptocurrency, cybersecurity, and the financial landscape of Zimbabwe.
Where can I find the complete research?
The complete research is not included in this preview. Further information on accessing the full research would need to be obtained from the publishing company or the researchers themselves.
- Arbeit zitieren
- Gabriel Kabanda (Autor:in), 2021, Model Structure for Block Chain Technology and Cryptocurrency for the Financial Services Sector in Zimbabwe, München, GRIN Verlag, https://www.hausarbeiten.de/document/1119788
