Testing Blockchain-Based Systems in the Financial Domain: A Review of the Literature

Nadiah Arsat; Normi Sham Awang  Abu Bakar; Norzariyah Yahya; Muhammad Abid  Jamil

doi:10.37934/araset.56.2.139157

Authors

Nadiah Arsat Department of Computer Science, Kulliyyah of Information and Communication Technology, International Islamic University Malaysia, 53100 Kuala Lumpur, Malaysia
Normi Sham Awang Abu Bakar Department of Computer Science, Kulliyyah of Information and Communication Technology, International Islamic University Malaysia, 53100 Kuala Lumpur, Malaysia
Norzariyah Yahya Department of Computer Science, Kulliyyah of Information and Communication Technology, International Islamic University Malaysia, 53100 Kuala Lumpur, Malaysia
Muhammad Abid Jamil College of Computer and Information Science, Umm Al Qura University, Makkah 24382, Saudi Arabia

DOI:

https://doi.org/10.37934/araset.56.2.139157

Keywords:

Blockchain-based systems testing, Financial domain, Performance testing, Security testing

Abstract

The application of blockchain technology has rapidly seen an increase in adoption and has already been implemented in various areas, including supply chains, the financial sector, government, and healthcare systems. Financial sectors are adopting blockchain technology to react to global economic growth and increasing financial significance. The implementation of blockchain by financial service providers is to improve security, transparency, and efficiency as well as to create more revenue opportunities. Since the blockchain-based system in the financial sector caters to millions of individuals and handles daily transactions involving trillions of dollars, blockchain-based systems testing is necessary to ensure the blockchain meets its purpose. As blockchain technology continues to evolve, the academic community needs a review of relevant and related literature to identify solutions to newly emerging potential challenges in blockchain-based systems testing in the financial industry. At the same time, a review of the literature concerning blockchain-based systems testing in the financial sector has yet to be carried out. Hence, this study aims to acquire a deeper understanding of the existing studies of blockchain-based systems in the financial domain and to discuss the performance and security testing of blockchain-based systems in the financial industry. This study also identifies the significance of blockchain-based systems testing in the financial domain. This research provides an in-depth review of the current papers on testing blockchain-based systems in the financial domain published between 2017 and 2022. The literature was gathered from several sources and platforms. Based on the literature collected and reviewed in this research, it has become evident that there is a limited number of research available concerning blockchain-based systems testing in the financial domain. The current state of knowledge on this subject is still in its early stages, with many aspects yet to be explored and discovered.