Blockchain and banking
by SMEBOOK (admin) · March 1, 2020
Blockchain technology is playing a significant role in the banking or financial sector by offering the utmost transparency and verified financial transactions with ease. It has made the banking systems more efficient, effective, and secured as it can store the enormous digital information on its secure network. Blockchain helps the banking system to carry out financial transactions at a much fast-paced rate, lower the administration costs, reduction in frauds, establish smart systems for payments or contracts, to do KYC, eliminate the fraud on trading platforms, and many others.