Blockchain is disrupting the financial services (FS) industry. Deloitte recently called it one of the year’s most controversial and debated topics.
Yet, despite the hundreds of millions being invested in blockchain technology by companies from all industries across the globe, there is still much confusion around how the technology works and the effects it will have on the FS sector in the long-term.
Blockchain is a distributed general ledger which records a transaction. At its core, it is a network of computers, which approve a transaction, which is then recorded in a chain of computer code. The details are recorded on a public ledger that anyone on the network can see, without exposing any confidential details about the subject and parties’ involved, or allowing the record to be altered at a later date.
For more on this story visit the following link: Blockchain: disrupting traditional architectures
Source: Banking Technology