Blockchain: The Future of Fintech Innovation
Shrikant Shete
Introduction to Blockchain Technology
Blockchain is an open or shared digital ledger, with a constantly updated list of transactions. It is supported by a peer-to-peer network that is either public or private. Every member on the community network represents a “block” (Figure 3.1). This creates a permanent unique audit trail. There is no single point of failure. There is no way to make modifications to the transaction record.
Blockchain is a fintech that disrupts the common technology in use by the banking and financial systems. So it is easy to say that within the financial technologies, the blockchain technology has unleashed a potential to replace banking services almost ...
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