Today, emerging technologies offer a new pathway for advancing the economy in the fields of banking, finance, and capital markets. Blockchain applications play a crucial role in ensuring trust and security within these industries by relying on transparency and visibility through peer-to-peer networks. The banking industry has also witnessed increased operations speed, better transparency, efficiency enhancement, fraud extenuation at less cost while sharing real-time data between various parties. Thus, the adoption of blockchain in the Banking and Insurance industry is developing very fast. It has emerged as the commonly accepted default platform for the banking and insurance industry.
This book explores how blockchain technology optimizes and integrates transactions and operations, facilitating easier access to information. This, in turn, has the potential to reduce communication costs and minimize minor data transfer errors. Additionally, the book delves into the current applications of blockchain technology in the financial industry, discusses its limitations, and outlines its future prospects for broader accessibility.
This book is aimed at students and researchers in financial engineering and fintech and it can serve as a reference for identifying problem areas and their possible solutions.