The special issue builds on a large body of empirical research findings on the AI-enabled blockchain and fintech innovation that are modernising global financial systems, however there is very little understanding of the opportunities and challenges that directly lead to the advancement of theoretical and practical impacts for financial and accounting systems and their outcomes that benefits the businesses, economy and society. From this special issue, the readers will gain advanced knowledge in modernisation of AI-enabled financial and accounting systems which will be delivered through new research, processes and findings from global developments in blockchain and fintech studies. The aim is to gain a deeper understanding of the fintech and blockchain applications, core concepts and variables, new theoretical underpinnings and practical scenarios, models of innovation and sustainability, improved practices and important issues that are driving solutions including the role of modern technologies such as AI, Web3 and Data Decentralisation for digital transformation.
The broader scope of this special issue is to explore and identify key elements to direct a scientific approach to study the critical areas and develop strategic innovations connecting people, AI-enabled blockchain and fintech to drive fundamental change that builds on the extant literature and robust analysis of scientific empirical data from the academia and embracing it with newer scientific developments from the industry evolving from practitioners’ knowledge and applications for innovative solutions. Another important aim is to guide technical and non-technical new developments through emerging research findings that report on new data findings and discovery of solutions that build on new knowledge in AI-enabled blockchain and fintech innovation. Emerging research has shown that fintech innovation can also lead to financial inclusion or inclusive finance which is a core theme of the United Nations and several of its subsidiaries undertaking social and financial developments in many countries that are driving scientific projects towards these goals.
The leading countries and their central banks (e.g. reserve banks) around the world have shown proactive approach and laid the digital foundation and piloting the advancements of the financial systems applications for digital currency adoption and interoperability such as CBDC (e.g. Central Bank Digital Currency) and the vision to make digital finance mainstream for the human societal benefits. The social driver of gender dynamics and digital financial literacy have shown to accelerate AI-enabled fintech and blockchain adoption and applications in developing countries for new digital start-ups leading to digital enterprise innovations and have also found to influence digital transformation and uplifting the economies and living standards of people especially in the lower levels of the society providing them with newer opportunities such as interacting through smartphone apps for e-banking, e-commerce, e-health, online education and many other services on digital platforms. New contributions are made for advancing innovations in new theories, applications and practices for AI-enabled blockchain and fintech for digital transformation of finance, banking, government and organisations that show major catalyst for adoption of new technologies across vast geographical regions with deeper penetration in regional and rural areas.
The banking and finance systems are at a critical choking point and research has shown that the traditional and centralised financial systems are failing leading to banking crisis, vulnerability to cyberattacks, and in this context blockchain and fintech can provide innovative solutions. Other areas to benefit from blockchain and fintech innovation includes health, investments, education, law, real estates, food and clean energy, climate change, travel, supply chains, software security, social media, governments and many others. New findings from empirical and qualitative studies and case findings and effective practice-based approach have been discovered that shed new insights.
For building on existing literature from multidisciplinary fields such as business, accounting and finance, innovation and technology, to demonstrate new theoretical and practice-based approach. The readers and researchers delve deep to recognise the discovery of new scientific and societal developments shaping from the blockchain and fintech innovation employed in different fields where decentralised finance, fintech and blockchain are adopted such as accounting, finance, banking, business, computer science, software, cryptocurrencies, fintech, metaverse, Web3, AI, IT, health care, engineering, social media and government organisations are having a profound impact through the technological advancement for human development.
The societal challenges that impact from failed financial systems to be re-engineered and replaced by newer and effective financial systems transcending the inefficiencies of the dated and inefficient processes and replacing them with AI-enabled blockchain and fintech innovations. Modernisation of the data for more effective use and application to benefit the societal impact by decentralising the data ownership directly to the users which can lead to higher benefits for the users to own their data, providing privacy and safety and security of sensitive data. SDG’s goal for better management of resources and sustainability practices in underdeveloped countries and reduce corruption, poverty, inequality, and improvements for transparency, health, education, clean energy, gender equality, employment, and access to finance via financial inclusion that will shape the modern development and the scientific research for uplifting human development.
This special issue will be very useful for researchers to build on new findings that have been reported from a robust academic finding. This will lead as a valuable tool for students, practitioners, government, managerial staff and other professionals to learn about new developments in AI-enabled blockchain and fintech innovation from a global perspective. International studies have been presented with new discoveries from America, Australia, Asia, Europe and the Middle East, which demonstrates the far-reaching impact for AI-enabled blockchain and fintech innovation and suggests that digital enterprises are global and are continuously evolving online into new ecosystems in different parts of the world via internet.
The manuscripts in this special issue present important discoveries, so that the readers can clearly understand, that is driving the requirements for AI-enabled blockchain and fintech innovations for modernising health care, universities, banks, hospitality, computing, government and private sector institutions, new start-up and many others. Researchers have analysed vast volumes of data and have deeply examined areas of AI-enabled blockchain and fintech innovations and have provided the readers with a clear understanding of important issues and challenge have being studied, such as problems, literature and theory, research methodology, new research data findings, gaps and solutions and recommendations, and future research direction for AI-enabled blockchain and fintech innovations that adds to the body of new knowledge and future research direction that will guide researchers in developing future studies, models and best practices frameworks.
The journey for developing and completing this special issue gives highest recognition to the reviewers, and the authors, that have made a valuable contribution to advance the body of new research knowledge and adopted new research techniques and frameworks to study the problems, and found innovative solutions to address those complicated problems that would have otherwise been unsolved. I am deeply grateful to Professor Han Donker (Co-editor, IJAIM) for the valuable support in the development of this special issue, and grateful for all the help received from the editorial and administration staff of the International Journal of Accounting and Information Management.
