Blockchain technology is one of the leading innovations in the finance industry, holding promise to reduce fraud, ensure quick and secure transactions and trades, and ultimately help manage risk within the interconnected global financial system.
Blockchain accomplishes this through advanced cryptography that is designed to be resistant to hacking, adding trust to the transaction ecosystem.
There are many financial uses provided by blockchain, not limited to keeping track of transactions and trades. As our global financial system becomes more connected in our age of digital transformation, investors would be well advised to learn about how blockchain is changing the system and how to gain and regulate exposure to this development.
Here's what investors should know about blockchain's growing role in financial services and the earning potential and risk factors it poses, from tech-oriented startups to traditional banks:
- What is blockchain?
- Benefits of blockchain in financial services
- Risks that blockchain and financial institutions face
- Blockchain investments to buy
Blockchain is a digital collection of transactions that are tracked and recorded in a decentralized network. It is a distributed ledger, which means there is no central authority of the network, or no one person or entity in control with the ability to corrupt the network. The blockchain comprises individual blocks of data, each containing a record of information, that are linked together in chronological...
Read Full Story: https://money.usnews.com/investing/cryptocurrency/articles/how-blockchain-can-transform-the-financial-services-industry
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