Blockchain in Banking

Blockchain in banking is a secure, digital ledger that records transactions across multiple computers, ensuring transparency and reducing fraud. It allows banks and customers to verify and share transaction data directly, without needing intermediaries. This technology enhances efficiency by speeding up processes, lowers costs, and improves security through cryptographic methods. Essentially, blockchain acts as an incorruptible record-keeping system, enabling seamless, trustworthy, and real-time financial transactions and record management in the banking industry.