Blockchain technology and smart contracts have revolutionized the way
financial transactions are conducted in virtual environments. This review paper
provides a comprehensive overview of the role of blockchain technology and smart
contracts in shaping the future of virtual financial transactions. We explore the
fundamentals of blockchain technology, its applications in the financial industry, and
the pivotal role that smart contracts play in automating and securing virtual financial
transactions. Furthermore, we discuss the benefits, challenges, and prospects of these
innovations within the virtual financial landscape.
Keywords: Artificial intelligence, Blockchain technology, Cross-border payments, Cryptocurrency, Digital identity, Financial transactions, Kyc, Machine learning, Smart contracts, Virtual finance.
