Blockchain is a digital ledger for recording transactions. It is a decentralized, distributed, and secure database that allows blocks of information to be stored in a chain. This makes it ideal for use in the financial sector, where trust and security are of paramount importance. Blockchain in banking and finance is the solution for institutions that want to truly digitize and automate their processes. Blockchain offers the promise of addressing some of the key challenges and pain points experienced over many years by the financial sector. In this paper, we explore the transformative impact of blockchain technology in various facets of the financial services industry.
blockchain, distributed digital ledger, finance, banking, finance industry
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