In finance blockchain technology has received a lot of attention for maintaining a decentralized and secure record of transactions. The researcher has tried to configure on how blockchain ensures reliability by chaining blocks of transactions together in such a way that altering any block breaks the link with the next block. This paper explores understanding of the term Blockchain technology and aims to demonstrate the use and application of blockchain technology in finance. It also aims to provide detailed understanding of the multidimensional applications of blockchain technology. The study reveals that limited contributions have been made in the financial sector by blockchain technology. It has enormous potential to add to the development of financial services. To achieve the objectives of the study we have used the exploratory method of the research. The paper findings says there is scope of future research as well as adoption of blockchain technology in the financial sector.