Blockchain Technology for Avoiding $1.77 Billion Scams in Public Banks
Blockchain in Banking
Business & Finance, Business Reference, Infrastructure
| Author: | Dr. Manisha Kumari Deep | ISBN: | 1230002174112 |
| Publisher: | KOBO PUBLISHERS | Publication: | February 23, 2018 |
| Imprint: | Language: | English |
| Author: | Dr. Manisha Kumari Deep |
| ISBN: | 1230002174112 |
| Publisher: | KOBO PUBLISHERS |
| Publication: | February 23, 2018 |
| Imprint: | |
| Language: | English |
Summary
BLOCKCHAIN Technology is being predicted to disrupt various sectors. Blockchain is the technology which helps in transfer of Bitcoin digitally. It uses cryptography to control its creation and management. Originally it was designed for digital currency Bitcoin also called digital gold. This technology is being adopted worldwide in different sectors. Also Blockchain is becoming very popular in Banking sector. ICICI bank has already jumped into it and is being followed by other Indian banks.
In India recently PNB bank had to suffer huge loss amonting to $1.77 billion which clearly points towards change and adoption of better technology for banking. This is just one case being discussed. Currently there are many such frauds and scams happening in India. Here it has been discussed about how Blockchain can make a difference in banking system and reducing frauds.
Summary
BLOCKCHAIN Technology is being predicted to disrupt various sectors. Blockchain is the technology which helps in transfer of Bitcoin digitally. It uses cryptography to control its creation and management. Originally it was designed for digital currency Bitcoin also called digital gold. This technology is being adopted worldwide in different sectors. Also Blockchain is becoming very popular in Banking sector. ICICI bank has already jumped into it and is being followed by other Indian banks.
In India recently PNB bank had to suffer huge loss amonting to $1.77 billion which clearly points towards change and adoption of better technology for banking. This is just one case being discussed. Currently there are many such frauds and scams happening in India. Here it has been discussed about how Blockchain can make a difference in banking system and reducing frauds.
