Significance of Blockchain Technology in Banking: Introduction and Challenges

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Author(s): Smita Sharma (University Institute of Technology, Rajiv Gandhi Proudyogiki Vishwavidyalaya, India)
Copyright: 2023
Pages: 23
Source title: Blockchain Applications in Cryptocurrency for Technological Evolution
Source Author(s)/Editor(s): Atour Taghipour (Normandy University, France)
DOI: 10.4018/978-1-6684-6247-8.ch014

Keywords: Business Science Reference / Computer Science & IT / Economics and Economic Theory / Web Technologies & Engineering

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Abstract

Blockchain, the technology that supports Bitcoin, has recently received a lot of attention. Blockchain acts as an unchangeable record that allows decentralised transactions to take place. Blockchain-based applications are getting popular in a variety of industries, particularly financial services, reputation management, the internet of things (IoT), and many others. Furthermore, there are still a number of issues with blockchain technology to address, including scalability and security concerns. This chapter provides an in-depth look of blockchain technology.

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