Future of Banking Sector with reference to Blockchain Technology
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The banking sector has been through a roller-coaster ride from the wall street crash 1929 to the 2008 financial crisis. The lack of a coherent and reliable system has impacted not just the banks, but the entire economies of the nations in this globalised world. On the parallel side, the rise of crypto-currencies has occurred as a means of defiance to the banks and governments control over the fiat-currency; if left unchecked it would lead to a chaotic situation. Thus, comes the need of the Blockchain technology, this book will cover the inception to the zenith it can reach in various phases an...
The banking sector has been through a roller-coaster ride from the wall street crash 1929 to the 2008 financial crisis. The lack of a coherent and reliable system has impacted not just the banks, but the entire economies of the nations in this globalised world. On the parallel side, the rise of crypto-currencies has occurred as a means of defiance to the banks and governments control over the fiat-currency; if left unchecked it would lead to a chaotic situation. Thus, comes the need of the Blockchain technology, this book will cover the inception to the zenith it can reach in various phases and transitions. The aim of this book is to the aware reader about the possible usages of the Blockchain in something as deep-rooted and complex as banking in day-to-day activities. The book focuses solely on Blockchain Technology in banking and as such, clears the common misconception of the technology just being used for the bitcoin. Simply put, Bitcoin is to Blockchain as the Earth is to the Universe; so let us broaden our horizons and widen our approaches.
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