Chapter 2 Blockchain Applications and Uses: Finance Industry
The finance industry has been one-sided since inventing blockchain technology for fiat (fiat currency is not backed by a commodity such as gold and silver), and cryptocurrency. Although the advent of blockchain technology took place in 2008 with the introduction of Bitcoin, the technology is greatly misunderstood as a facilitator of cryptocurrency-based transactions only. This fallacy must be resolved. While digital currency is very widespread and deeply associated with blockchain technology, the technology is useful in all aspects of the finance industry. This chapter focuses on the lack of regulations surrounding digital assets that threaten the global financial sector. It delves ...
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