The rapid transformation of global financial systems and the emergence of innovative technologies such as blockchain, digital currencies, and distributed financial networks have underscored the growing need for fundamental changes in international financial transfer methods. Traditional banking systems face numerous challenges, including high transaction costs, geographical limitations, payment processing delays, and excessive centralization. Moreover, economic sanctions and regulatory constraints have restricted access to global financial infrastructure for many countries and businesses.
This study proposes a five-layer model for international financial transfers based on decentralized technologies, comprising a decentralized banking network, digital wallet, stable digital currency, financial social network, and a connectivity layer. The proposed model reduces transaction costs, enhances payment speed and security, eliminates financial intermediaries, and fosters transparency, offering an efficient alternative to conventional systems. Additionally, with its scalable and flexible architecture, the model facilitates cross-border transactions under sanctions and banking restrictions.
The findings indicate that the proposed model, by leveraging modern information and communication technologies, can play a significant role in facilitating global financial exchanges, reducing dependency on centralized banking systems, and increasing countries' economic autonomy. However, successful implementation requires the development of technological infrastructure, the establishment of appropriate legal frameworks, and broad acceptance by users and financial institutions. Finally, the study suggests future research directions for further development of the model and its alignment with regulatory and operational requirements