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ArticlePeer ReviewedOpen AccessPlagiarism Passed
Paper ID:IJSREM25880

How Blockchain is Used in Financial Services

Stream/Area:

-

Subject:

-

Paper ID:

IJSREM25880

Volume:

7 |

9 |

Sep 2023

Pages:

Publication Frequency:

Monthly (12 issues per year)

DOI
Digital Object Identifier
Not assigned

License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.

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Authors

PALN

Prof. Arvind L N

MMC

Monika Murthy C

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Abstract

Blockchain technology has become a disruptive force in the financial services sector, by providing distributed, transparent, and secure transactions. The applications of Blockchain technology are discussed in the paper. The key characteristics of blockchain are highlighted along with how Bitcoin impacted it. The study examines a few particular blockchain-based financial services. These include making extremely small payments, transacting business internationally, and sending money directly to others. The study talks about the impact of blockchain digital contracts, trade finance, related to rules and regulations, and central bank management of digital currency. Although blockchain is useful, it also has some drawbacks, such as handling rules, maintaining security, and managing numerous transactions.

KEYWORDS

Blockchain Technology Financial Services Decentralization.

Cite This Article

Prof. Arvind L N, Monika Murthy C, "How Blockchain is Used in Financial Services," International Journal of Scientific Research in Engineering and Management, vol. 7, no. 9, Sep 2023.

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Publication Date

9/29/2023

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Double-Blind Peer Review

Review Rounds: 2

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0

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9

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5

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Conflict of Interest

The authors declare no conflict of interest related to this research work.

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No funding information available for this research.

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