Features of the application of blockchain technology in the functioning of the banking sector
Bibliographic entry
Yang, Jie. Features of the application of blockchain technology in the functioning of the banking sector / Jie Yang // Материалы форума «Развитие интернационализации и экономической интеграции в новых реалиях» в рамках 19-го Международного научного семинара «Мировая экономика и бизнес-администрирование» : XXI Международная научно-техническая конференция «Наука – образованию, производству, экономике», Республика Беларусь, Минск, 23-24 марта 2023 г. / Белорусский национальный технический университет. – Минск : Четыре четверти, 2023. – С. 75-77.
Abstract
Since the advent of blockchain in 2008, this technology has become one of the hottest topics in FinTech research and has gradually made its way into the global banking industry. Commercial banks in many countries have already begun to use blockchain in three main aspects of the payment and settlement business, the asset business and the intermediary business. The current application of blockchain in banks is mainly aimed at creating platforms and systems to improve the efficiency of transactions and information processing. Although blockchain faces risks when applied by commercial banks , in the future, commercial banks may apply blockchain technology in many aspects, such as inter-bank blockchain alliances, internal and external cooperation, multi-service blockchains, and digital currencies.