Block Chain in Banking Industry – A Revolutionary Technology

Authors: Amol Murgai

DOI: https://doi.org/10.17605/OSF.IO/SMCPY

Short DOI: https://doi.org/ggrs9w

Country: India

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Abstract: The 21st century is all about technology. With the increasing need for modernization in our day-to-day lives, people are open to accepting new technologies. Our banking transactions, our shopping, our communications, etc everything is done online today. And everything we do online is recorded and that includes the exchange of value, every digital transaction; goods and services, and so on. From using a remote for controlling devices to using voice notes for giving commands; modern technology has made space in our regular lives. Technologies like augmented reality and Internet of Things (IoT) that have gained pace in the past decade and now there’s a new addition to the pack i.e. Blockchain Technology. The revolutionary technology impacting different industries miraculously was introduced in the markets with its very first modern application Bitcoin. Bitcoin is nothing but a form of digital currency which can be used in the place of fiat money for trading. And the underlying technology behind the success of crypto currencies is termed as Blockchain.

Keywords: Bitcoin, Blockchain, Banking

Paper Id: 293

Published On: 2018-09-02

Published In: Volume 6, Issue 5, September-October 2018

Cite This: Block Chain in Banking Industry – A Revolutionary Technology - Amol Murgai - IJIRMPS Volume 6, Issue 5, September-October 2018. DOI 10.17605/OSF.IO/SMCPY

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