With every passing year, the blockchain industry keeps setting new records and achievements. Even though today cryptocurrency is possibly the most prominent blockchain application in the financial sector, however, the scope, potential and bigger-picture use-cases of blockchain tech go much beyond the realm of crypto!
Off late, blockchain is being increasingly used in the banking space, majorly with the aim to document financial transactions across a secure large network using virtual means. The use of blockchain allows data consumers to safely share information without the use of intermediaries.
No wonder why blockchain is deemed one of the most promising financial breakthroughs, with the potential to decrease fraud, provide speedy and safe transactions and exchanges, and assist in risk management within the global financial systems.
The immutability and irreversibility of a decentralized ledger powered by blockchain essentially make it near-impossible for changes to be incorporated...
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https://www.indiatimes.com/explainers/news/the-growing-need-for-blockchain-aw...
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