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

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  • EP ID EP747244
  • DOI 10.47191/etj/v9i10.06
  • Views 76
  • Downloads 0

How To Cite

Dr. Bibhu Prasad Dash (2024). The Advancements Blockchain has had on the Financial Services Industry. Engineering and Technology Journal, 9(10), -. https://europub.co.uk/articles/-A-747244