Revolutionizing the Banking Industry with Blockchain

Abstract

With the development of the Internet and economic and digital transformations, banks are experiencing new challenges and opportunities. Cryptocurrency combined with blockchain technology is a promising technology with applications in the banking sector. It can change the finance zone and mould the process more autonomous, unambiguous, safe, and effective. Blockchain is a technology that combines multiple technologies like scatter information processing, concurrence procedure, comprehensive communication and encipher scripting. The objective of this research is to develop a model and anatomy of blockchain architecture in order to understand the technology. Much fact-finding on Blockchain automation is being carried out. concurrence procedure which are analysed here. This project primarily discusses how the banking industry uses this platform and its benefits and limitations.