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Blockchain and AI in Global Finance: A Case Study of Cross-Border Payments in 2024 Asia

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  • Baston, George

Abstract

This paper investigates the integration of artificial intelligence (AI) into trading ecosystems from 2020 to 2023. It outlines the historical progression of AI applications in financial markets, emphasizing the transition from rule-based algorithms to data-driven machine learning models. The analysis covers AI-driven innovations in biometric identity verification, predictive analytics, and personalized trading systems. The economic contributions of AI are quantified using institutional estimates, with a focus on regional implementation strategies. Regulatory structures, particularly in Singapore, are examined in the context of their role in enabling AI adoption while ensuring compliance. Challenges including data governance, ethical constraints, regulatory inconsistencies, and technical limitations in blockchain infrastructure are analyzed. The discussion also highlights the impact of expertise shortages and the critical need for government-industry collaboration in fintech development.

Suggested Citation

  • Baston, George, 2025. "Blockchain and AI in Global Finance: A Case Study of Cross-Border Payments in 2024 Asia," OSF Preprints te83v_v1, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:te83v_v1
    DOI: 10.31219/osf.io/te83v_v1
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    References listed on IDEAS

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    1. Glaessner, Thomas & Kellermann, Tom & McNevin, Valerie, 2002. "Electronic security - risk mitigation in financial transactions : public policy issues," Policy Research Working Paper Series 2870, The World Bank.
    2. Qian, Ling & Dong, Lianjie, 2025. "Convergence of Blockchain and AI in Global Finance: Cross-Border Payment Innovations and Adaptive Trading Algorithms," OSF Preprints 7qvk8_v1, Center for Open Science.
    3. Jayanth Rama Varma, 2019. "Blockchain in Finance," Vikalpa: The Journal for Decision Makers, , vol. 44(1), pages 1-11, March.
    4. Du, Yudai, 2025. "Singapore’s Fintech Revolution: Blockchain-Powered Cross-Border Settlements and AI-Enhanced Trading Ecosystems (2020-2023)," OSF Preprints fhg3z_v1, Center for Open Science.
    5. George Cornel Dumitrescu, 2017. "Bitcoin – A Brief Analysis of the Advantages and Disadvantages," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 5(2), pages 63-71, December.
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