Blockchain for Banks: Revolutionizing Financial Services

  • quick transactions leave less time for fraudsters to intervene in the operation.
  • there are two security keys for every transaction — a public key available for everyone, and a private key that is only shared between the parties of the transaction. Private key is unique for every transaction — even if it’s stolen, it can’t be used for further transactions.
  • Blockchain itself is a digital ledger and not a single part of it can be changed or deleted. That eliminates the possibility of fraud.
  • Decentralized nature of Blockchain doesn’t allow storing all data in one location removing the possibility of identity theft.

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