Blockchain use Cases in Financial Services for Improving Security

Abstract

Blockchain in today's world is digital ledger of transactions not only recording transaction but also recording everything that is of value, from the evolution of blockchain there have been dramatic changes in the financial sector and around the globe that how people carry out financial transactions, Blockchain is considerably new technology and has great potential for revolutionizing the whole global economy. In recent years Blockchain has been in the news because of bitcoin, the rise and fall of bitcoin, the market crash along with the regulations that Indian government are trying to implement to banned bitcoin in the country, this kind of steps is what becomes a hurdle for this interestingly advance technology to grow and make room for it's ability to power decentralized economy with this idea of decentralized economy government of various nations are scared that they will lose control of their economy but instead that government should have done is that they should study the implications of blockchain and benefits associated with it and how this can benefit to help eradicate corruptions and within the organization Blockchain has Proved to be Groundbreaking technology with its potential in the current, Blockchain is unique and has been implemented in many industries. Thus, blockchain use in banking will definitely result in a better banking system.