Blockchain Technology in Banking and Finance

Abstract

Blockchain Technology has proven to be or will prove to be a very essential Technology in the coming future, as it secures and safeguards the information-or here referred to as a transaction. This Technology enables in the elimination of the third-party involvement, which is needed for the level of trust in the exchange of data-transaction. This is one of the root causes of this Technology to impact the business models throughout the industries, it will affect the working of the industries and these industries will have to substantially change their business models and structure to actually grow with the growing Technology.