The Advancements Blockchain has had on the Financial Services Industry
Journal Title: Engineering and Technology Journal - Year 2024, Vol 9, Issue 10
Abstract
The financial services industry handles transactions amounting to trillions of dollars daily, necessitating a focus on cost-efficiency, transparency, and security. Prior to the integration of blockchain technology, intermediaries such as money transfer services, stock exchanges, and payment networks frequently encountered cybercrime. Blockchain technology, initially popularized by cryptocurrencies like Bitcoin, has since become a transformative force across various financial sectors. This technology enhances the industry by providing secure, transparent, and cost-effective transaction protocols through encryption and algorithms. This prose explores the significant advancements blockchain has brought to financial services, emphasizing its role in revolutionizing insurance, asset management, banking, and the stock market.
Authors and Affiliations
Dr. Bibhu Prasad Dash
Keywords
Related Articles
- EP ID EP747244
- DOI 10.47191/etj/v9i10.06
- Views 76
- Downloads 0
Impact Load Resistance of Steel after Heat Treatment and Quenching with Distilled Water
Given that low carbon steels have favourable mechanical properties, they are widely used in power plant components, oil and gas pipelines, and armor structures. However, the relationship between a steel's structure and m...
Prediction and Verification of Groundwater Potential in Qingyang Area Based on Reliability Test, Validity Test and ROC Curve Method
The combination of remote sensing and GIS has become a common method to locate groundwater potential. Selecting reasonable and effective evaluation factors has become the most important thing in groundwater potential pre...
THE EFFECT OF DIGITALIZATION FOR EMPLOYEES IN MANUFACTURING COMPANIES IN THE ERA OF INDUSTRIAL REVOLUTION 4.0 USING THE CFA (CONFIRMATORY FACTOR ANALYSIS) CALCULATION METHOD
Industrial digitalization 4.0 is a change in communication, function and interaction in industry to digital. So, this is an industrial transformation from a conventional concept to a virtual one. The purpose of this rese...
Developing a Multidimensional Framework for Vaccine Confidence: Analyzing Socioeconomic, Cultural, and Psychological Determinants of Vaccine Decision-Making
Vaccine confidence plays a crucial role in determining vaccine uptake and ensuring the success of public health initiatives to prevent infectious diseases. However, vaccine hesitancy remains a significant challenge in ma...
Analyzing Road Images for Pothole Detection through Machine Learning Algorithms: A Comprehensive Review
The road accident prediction system leverages deep learning techniques, specifically YOLO (You Only Look Once), for the detection of potholes in road footage. By employing YOLO, the system can efficiently identify and lo...