A view of Financial Industry with Blockchain technology
What is a Blockchain Technology ? The Blockchain Technology is a digital ledger of financial transactions; which can be planned to record not just financial transactions but practically everything of money. You can refer to know more about Blockchain technology by visiting – “5 Ways in Which Blockchain Could Impact your Business & Society.” How are financial services using Blockchain Technology ? Crypto-currency was introduced with the aim of bypassing financial institutions and central regulatory bodies. However, crypto currency technology has gradually become a field of interest for banks all over the world. The financial industry has spent an estimated $1.7 billion on Blockchain technology in 2017. Industry experts predict a range of areas in the finance industry that would be right for blockchain technology such as proof of trade finance, expenses, clearing and settlement etc. While most of the plans haven’t grown outside the ‘experimentation’ phase;...