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Significance of Blockchain Technology in Banking: Introduction and Challenges
Abstract
Blockchain, the technology that supports Bitcoin, has recently received a lot of attention. Blockchain acts as an unchangeable record that allows decentralised transactions to take place. Blockchain-based applications are getting popular in a variety of industries, particularly financial services, reputation management, the internet of things (IoT), and many others. Furthermore, there are still a number of issues with blockchain technology to address, including scalability and security concerns. This chapter provides an in-depth look of blockchain technology.
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