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| blockchain technology in banking: Blockchain and Banking Pierluigi Martino, 2021-04-05 This book explores blockchain technology’s impact on banks, particularly how blockchain technology can create new opportunities for banks and poses new threats to their business. The digital revolution in the banking industry, whose customers are increasingly adapting to new technologies and new types of competitors and solutions arising in the space, has had a significant impact on the banking industry over the past few years, requiring banks to substantially rethink their business models and strategies in order to cope with these developments. The rise of blockchain’s distributed ledger technology (DLT) has also played an important role since it has the potential to change the whole banking industry in faster and more disruptive ways than ever before. Born as the technology underlying Bitcoin, which has been used to allow the recording of cryptocurrencies transactions, blockchain can facilitate the process of recording any transaction type and track the movement of any asset, finding application in many different areas. Specifically, it has been acknowledged as a disruptive force in the financial sector and a key source of future financial market innovation with the potential to reshape existing business models in the financial services industry. Regarding the banking industry in particular, existing literature suggests that blockchain poses new challenges and generates opportunities as well as threats. This is pushing banks to rethink their operations, business models and strategies. However, literature in this regard is still in its infancy, and we do not yet have a clear understanding of blockchain technology’s potential implications for banks. This book expands the literature on blockchain technology in banking by providing new insights into the developments, trends and challenges of blockchain in the banking industry. In particular, sheds more light on the implications of blockchain technology for banks by discussing the advantages and disadvantages related to this technology and exploring its potential impact on traditional banking business models. |
| blockchain technology in banking: Blockchain Technology and Computational Excellence for Society 5.0 Khan, Shahnawaz, Syed, Mohammad Haider, Hammad, Rawad, Bushager, Aisha Fouad, 2022-01-14 Blockchain is the most disruptive technology to emerge in the last decade. The evolution of cryptocurrencies has carried with it a revolution in digital economics that has catapulted the application of blockchain technology to a new level across a variety of industries, including banking, security, networking, and more. Blockchain Technology and Computational Excellence for Society 5.0 closes the gap in existing literature by presenting a selection of chapters that not only shape the research domain, but also present supportive real-life problems and pragmatic solutions. This book presents a variety of highly relevant themes, concepts, and applications in blockchain, discussing topics such as cyber security, digital currencies, and intelligent networks, fueling awareness and interest. With its insight into various platforms, techniques, and tools, this book serves as a valuable resource for academicians, researchers, research scholars, postgraduates, professors, computer scientists, and technology enthusiasts. |
| blockchain technology in banking: Blockchain and Banking Pierluigi Martino, 2021 This book explores blockchain technology's impact on banks, particularly how blockchain technology can create new opportunities for banks and poses new threats to their business. The digital revolution in the banking industry, whose customers are increasingly adapting to new technologies and new types of competitors and solutions arising in the space, has had a significant impact on the banking industry over the past few years, requiring banks to substantially rethink their business models and strategies in order to cope with these developments. The rise of blockchain's distributed ledger technology (DLT) has also played an important role since it has the potential to change the whole banking industry in faster and more disruptive ways than ever before. Born as the technology underlying Bitcoin, which has been used to allow the recording of cryptocurrencies transactions, blockchain can facilitate the process of recording any transaction type and track the movement of any asset, finding application in many different areas. Specifically, it has been acknowledged as a disruptive force in the financial sector and a key source of future financial market innovation with the potential to reshape existing business models in the financial services industry. Regarding the banking industry in particular, existing literature suggests that blockchain poses new challenges and generates opportunities as well as threats. This is pushing banks to rethink their operations, business models and strategies. However, literature in this regard is still in its infancy, and we do not yet have a clear understanding of blockchain technology's potential implications for banks. This book expands the literature on blockchain technology in banking by providing new insights into the developments, trends and challenges of blockchain in the banking industry. In particular, sheds more light on the implications of blockchain technology for banks by discussing the advantages and disadvantages related to this technology and exploring its potential impact on traditional banking business models. Pierluigi Martino is a Researcher in Financial Markets and Institutions at the Department of Economics and Management, University of Pisa, Italy. He has also been a Research Assistant at the Cass Business School, City University of London, UK. His research interests are in the areas of banking, corporate governance, entrepreneurial finance and blockchain technology. |
| blockchain technology in banking: Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1 David Lee Kuo Chuen, Robert H. Deng, 2017-08-03 Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1: Cryptocurrency, FinTech, InsurTech, and Regulation explores recent advances in digital banking and cryptocurrency, emphasizing mobile technology and evolving uses of cryptocurrencies as financial assets. Contributors go beyond summaries of standard models to describe new banking business models that will be sustainable and will likely dictate the future of finance. The volume not only emphasizes the financial opportunities made possible by digital banking, such as financial inclusion and impact investing, but it also looks at engineering theories and developments that encourage innovation. Its ability to illuminate present potential and future possibilities make it a unique contribution to the literature. - Explores recent advances in digital banking and cryptocurrency, emphasizing mobile technology and evolving uses of cryptocurrencies as financial assets - Explains the practical consequences of both technologies and economics to readers who want to learn about subjects related to their specialties - Encompasses alternative finance, financial inclusion, impact investing, decentralized consensus ledger and applied cryptography - Provides the only advanced methodical summary of these subjects available today |
| blockchain technology in banking: Handbook of Blockchain, Digital Finance, and Inclusion, Volume 2 David Lee Kuo Chuen, Robert H. Deng, 2017-08-16 Handbook of Blockchain, Digital Finance, and Inclusion, Volume 2: ChinaTech, Mobile Security, and Distributed Ledger emphasizes technological developments that introduce the future of finance. Descriptions of recent innovations lay the foundations for explorations of feasible solutions for banks and startups to grow. The combination of studies on blockchain technologies and applications, regional financial inclusion movements, advances in Chinese finance, and security issues delivers a grand perspective on both changing industries and lifestyles. Written for students and practitioners, it helps lead the way to future possibilities. - Explains the practical consequences of both technologies and economics to readers who want to learn about subjects related to their specialties - Encompasses alternative finance, financial inclusion, impact investing, decentralized consensus ledger and applied cryptography - Provides the only advanced methodical summary of these subjects available today |
| blockchain technology in banking: The Smart Cyber Ecosystem for Sustainable Development Pardeep Kumar, Vishal Jain, Vasaki Ponnusamy, 2021-10-12 The Smart Cyber Ecosystem for Sustainable Development As the entire ecosystem is moving towards a sustainable goal, technology driven smart cyber system is the enabling factor to make this a success, and the current book documents how this can be attained. The cyber ecosystem consists of a huge number of different entities that work and interact with each other in a highly diversified manner. In this era, when the world is surrounded by many unseen challenges and when its population is increasing and resources are decreasing, scientists, researchers, academicians, industrialists, government agencies and other stakeholders are looking toward smart and intelligent cyber systems that can guarantee sustainable development for a better and healthier ecosystem. The main actors of this cyber ecosystem include the Internet of Things (IoT), artificial intelligence (AI), and the mechanisms providing cybersecurity. This book attempts to collect and publish innovative ideas, emerging trends, implementation experiences, and pertinent user cases for the purpose of serving mankind and societies with sustainable societal development. The 22 chapters of the book are divided into three sections: Section I deals with the Internet of Things, Section II focuses on artificial intelligence and especially its applications in healthcare, whereas Section III investigates the different cyber security mechanisms. Audience This book will attract researchers and graduate students working in the areas of artificial intelligence, blockchain, Internet of Things, information technology, as well as industrialists, practitioners, technology developers, entrepreneurs, and professionals who are interested in exploring, designing and implementing these technologies. |
| blockchain technology in banking: Security, Privacy, and Forensics Issues in Big Data Joshi, Ramesh C., Gupta, Brij B., 2019-08-30 With the proliferation of devices connected to the internet and connected to each other, the volume of data collected, stored, and processed is increasing every day, which brings new challenges in terms of information security. As big data expands with the help of public clouds, traditional security solutions tailored to private computing infrastructures and confined to a well-defined security perimeter, such as firewalls and demilitarized zones (DMZs), are no longer effective. New security functions are required to work over the heterogenous composition of diverse hardware, operating systems, and network domains. Security, Privacy, and Forensics Issues in Big Data is an essential research book that examines recent advancements in big data and the impact that these advancements have on information security and privacy measures needed for these networks. Highlighting a range of topics including cryptography, data analytics, and threat detection, this is an excellent reference source for students, software developers and engineers, security analysts, IT consultants, academicians, researchers, and professionals. |
| blockchain technology in banking: Innovative Strategies for Implementing FinTech in Banking Albastaki, Yousif Abdullatif, Razzaque, Anjum, Sarea, Adel M., 2020-08-28 FinTech is encouraging various new practices, such as diminishing the use of cash in different countries, increasing rate of mobile payments, and introducing new algorithms for high-frequency trading across national boundaries. It is paving the way for new technologies emerging in the information technology scene that allow financial service firms to automate existing business processes and offer new products, including crowdfunding or peer-to-peer insurance. These new products cater to hybrid client interaction and customer self-services, changing the ecosystem by increasing outsourcing for focused specialization by resizing and leading to new ecosystems and new regulations for encouraging FinTech. However, such new ecosystems are also accompanied by new challenges. Innovative Strategies for Implementing FinTech in Banking provides emerging research exploring the theoretical and practical aspects of technology inclusion in the financial sector and applications within global financing. It provides a clear direction for the effective implementation of FinTech initiatives/programs for improving banking financial processes, financial organizational learning, and performance excellence. Featuring coverage on a broad range of topics such as artificial intelligence, social financing, and customer satisfaction, this book encourages the management of the financial industry to take a proactive attitude toward FinTech, resulting in a better decision-making capability that will support financial organizations in their journey towards becoming FinTech-based organizations. As such, this book is ideally designed for financial analysts, finance managers, finance administrators, banking professionals, IT consultants, researchers, academics, students, and practitio |
| blockchain technology in banking: Blockchain Revolution Don Tapscott, Alex Tapscott, 2016-05-10 Blockchain technology is powering our future. As the technology behind cryptocurrencies like bitcoin and Facebook's Libra, open software platforms like Ethereum, and disruptive companies like Ripple, it’s too important to ignore. In this revelatory book, Don Tapscott, the bestselling author of Wikinomics, and his son, blockchain expert Alex Tapscott, bring us a brilliantly researched, highly readable, and essential book about the technology driving the future of the economy. Blockchain is the ingeniously simple, revolutionary protocol that allows transactions to be simultaneously anonymous and secure by maintaining a tamperproof public ledger of value. Though it’s best known as the technology that drives bitcoin and other digital currencies, it also has the potential to go far beyond currency, to record virtually everything of value to humankind, from birth and death certificates to insurance claims, land titles, and even votes. Blockchain is also essential to understand if you’re an artist who wants to make a living off your art, a consumer who wants to know where that hamburger meat really came from, an immigrant who’s tired of paying big fees to send money home to your loved ones, or an entrepreneur looking for a new platform to build a business. And those examples are barely the tip of the iceberg. As with major paradigm shifts that preceded it, blockchain technology will create winners and losers. This book shines a light on where it can lead us in the next decade and beyond. |
| blockchain technology in banking: Banking Beyond Banks and Money Paolo Tasca, Tomaso Aste, Loriana Pelizzon, Nicolas Perony, 2016-09-01 Do you know how banking and money will look like in the new digital age? This book collects the voices of leading scholars, entrepreneurs, policy makers and consultants who, through their expertise and keen analytical skills, are best positioned to picture from various angles the ongoing technological revolution in banking and finance. You will learn how lending and borrowing can exist without banks; how new forms of money can compete to better serve different society needs; how new technologies are banking the unbanked communities in the poorest parts of the world, and how ideas and small projects can be financed by the crowds without the need to rely upon banks. You will learn how, in the new digital age, we will interact with new self-organised and autonomous companies that operate without any human involvement, based on a set of programmed and incorruptible rules. You will learn that new business models will emerge thanks to technology-enabled platforms, upon which one can build new forms of non-hierarchical cooperation between strangers. And you will also learn that new forms of risks and threats are emerging that will destabilise our systems and jeopardise the stability of our financial order. |
| blockchain technology in banking: Blockchain, Artificial Intelligence and Financial Services Sean Stein Smith, 2019-11-15 Blockchain technology and artificial intelligence (AI) have the potential to transform how the accounting and financial services industries engage with the business, stakeholder and consumer communities. Presenting a blend of technical analysis with current and future applications, this book provides professionals with an action plan to embrace and move forward with these new technologies in financial and accounting organizations. It is written in a conversational style that is unbiased and objective, replacing jargon and technical details with real world case examples. |
| blockchain technology in banking: Blockchain Technology and Applications Ahmed Banafa, 2020-05-30 This book explores the fundamentals and applications of Blockchain technology; the transparent, secure, immutable and distributed database used currently as the underlying technology for Cryptocurrency. Decentralized peer-to-peer network, distributed ledger and the trust model that defines Blockchain technology will be explained. |
| blockchain technology in banking: Financial Services Revolution Alex Tapscott, 2020 |
| blockchain technology in banking: Cryptocurrencies and Blockchain Technology Applications Gulshan Shrivastava, Dac-Nhuong Le, Kavita Sharma, 2020-06-30 As we enter the Industrial Revolution 4.0, demands for an increasing degree of trust and privacy protection continue to be voiced. The development of blockchain technology is very important because it can help frictionless and transparent financial transactions and improve the business experience, which in turn has far-reaching effects for economic, psychological, educational and organizational improvements in the way we work, teach, learn and care for ourselves and each other. Blockchain is an eccentric technology, but at the same time, the least understood and most disruptive technology of the day. This book covers the latest technologies of cryptocurrencies and blockchain technology and their applications. This book discusses the blockchain and cryptocurrencies related issues and also explains how to provide the security differently through an algorithm, framework, approaches, techniques and mechanisms. A comprehensive understanding of what blockchain is and how it works, as well as insights into how it will affect the future of your organization and industry as a whole and how to integrate blockchain technology into your business strategy. In addition, the book explores the blockchain and its with other technologies like Internet of Things, big data and artificial intelligence, etc. |
| blockchain technology in banking: Handbook of Research on Blockchain Technology Saravanan Krishnan, Valentina Emilia Balas, E. Golden Julie, Harold Robinson Yesudhas, S. Balaji, Raghvendra Kumar, 2020-02-04 Handbook of Research on Blockchain Technology presents the latest information on the adaptation and implementation of Blockchain technologies in real world business, scientific, healthcare and biomedical applications. The book's editors present the rapid advancements in existing business models by applying Blockchain techniques. Novel architectural solutions in the deployment of Blockchain comprise the core aspects of this book. Several use cases with IoT, biomedical engineering, and smart cities are also incorporated. As Blockchain is a relatively new technology that exploits decentralized networks and is used in many sectors for reliable, cost-effective and rapid business transactions, this book is a welcomed addition on existing knowledge. Financial services, retail, insurance, logistics, supply chain, public sectors and biomedical industries are now investing in Blockchain research and technologies for their business growth. Blockchain prevents double spending in financial transactions without the need of a trusted authority or central server. It is a decentralized ledger platform that facilitates verifiable transactions between parties in a secure and smart way. - Presents the evolution of blockchain, from fundamental theories, to present forms - Explains the concepts of blockchain related to cloud/edge computing, smart healthcare, smart cities and Internet of Things (IoT) - Provides complete coverage of the various tools, platforms and techniques used in blockchain - Explores smart contract tools and consensus algorithms - Covers a variety of applications with real world case studies in areas such as biomedical engineering, supply chain management, and tracking of goods and delivery |
| blockchain technology in banking: Blockchain in Banking Philipp Herrlich, 2022-03-03 Master's Thesis from the year 2017 in the subject Business economics - Investment and Finance, grade: A, École des hautes études commerciales de Paris, language: English, abstract: As central financial intermediary, the banking industry offers a broad range of potential applications for blockchain technology. The purpose of this study is the exploration of the possible uses of blockchain in the field of commercial banking, the derivation of potential operational and strategic implications of such applications, and the uncovering of hurdles that currently stand in the way of a wider-scale implementation of the technology. The exploratory research design is based on a literature review as well as on interviews conducted with dedicated blockchain professionals. The research methodology resulted in the identification of three particularly relevant use cases of blockchain technology in commercial banking: cross-border payments, trade finance, and know-your-customer applications. Utilizing blockchain within these areas can allow commercial banks to reduce process complexity and operating cost as well to unlock additional strategic opportunities. But as of today, technological issues, the lack of a common standard, regulatory uncertainty, and cultural hurdles of organisations still prevent the implementation of blockchain in commercial banks on a wider scale. |
| blockchain technology in banking: Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance Gupta, S. L., Kansra, Pooja, Kukreja, Gagan, 2022-06-03 The surge in technological transformation affects all business model phases over many industries. Emerging technologies provide new avenues for industries to increase their competitive advantage and enhance economic progression. Blockchain technology’s ability to build an open and trustworthy network model seems to promote shared IT-based networks in banking, insurance, and other similar industries. The adoption of blockchain in the banking and insurance industry is developing rapidly. Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance explores how blockchain technologies optimize and integrate the transactions and operations in association with access to information and reduction in communication costs and negligible data transfer errors. It includes studies on various banking and insurance industries intending to use blockchain technology to make transactions convenient, simple, and safe. Covering topics such as cryptocurrency, digital transformation, and small and medium-sized enterprises, this premier reference source is an essential resource for policymakers, government officials, students and educators of higher education, libraries, banking managers, insurance professionals, researchers, and academicians. |
| blockchain technology in banking: The REGTECH Book Janos Barberis, Douglas W. Arner, Ross P. Buckley, 2019-08-06 The Regulatory Technology Handbook The transformational potential of RegTech has been confirmed in recent years with US$1.2 billion invested in start-ups (2017) and an expected additional spending of US$100 billion by 2020. Regulatory technology will not only provide efficiency gains for compliance and reporting functions, it will radically change market structure and supervision. This book, the first of its kind, is providing a comprehensive and invaluable source of information aimed at corporates, regulators, compliance professionals, start-ups and policy makers. The REGTECH Book brings into a single volume the curated industry expertise delivered by subject matter experts. It serves as a single reference point to understand the RegTech eco-system and its impact on the industry. Readers will learn foundational notions such as: • The economic impact of digitization and datafication of regulation • How new technologies (Artificial Intelligence, Blockchain) are applied to compliance • Business use cases of RegTech for cost-reduction and new product origination • The future regulatory landscape affecting financial institutions, technology companies and other industries Edited by world-class academics and written by compliance professionals, regulators, entrepreneurs and business leaders, the RegTech Book represents an invaluable resource that paves the way for 21st century regulatory innovation. |
| blockchain technology in banking: Regulatory Aspects of Artificial Intelligence on Blockchain Tehrani, Pardis Moslemzadeh, 2021-09-24 The convergence of Artificial Intelligence (AI) in blockchain creates one of the world’s most reliable technology-enabled decision-making systems that is virtually tamper-proof and provides solid insights and decisions. The integration of AI and Blockchain affects many aspects from food supply chain logistics and healthcare record sharing to media royalties and financial security. It is imperative that regulatory standards are emphasized in order to support positive outcomes from the integration of AI in blockchain technology. Regulatory Aspects of Artificial Intelligence on Blockchain provides relevant legal and security frameworks and the latest empirical research findings in blockchain and AI. Through the latest research and standards, the book identifies and offers solutions for overcoming legal consequences that pertain to the application of AI into the blockchain system, especially concerning the usage of smart contracts. The chapters, while investigating the legal and security issues associated with these applications, also include topics such as smart contacts, network vulnerability, cryptocurrency, machine learning, and more. This book is essential for technologists, security analysts, legal specialists, privacy and data security practitioners, IT consultants, standardization professionals, researchers, academicians, and students interested in blockchain and AI from a legal and security viewpoint. |
| blockchain technology in banking: The AI Book Ivana Bartoletti, Anne Leslie, Shân M. Millie, 2020-06-29 Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: · Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI · AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today’s Financial Services Industry · The future state of financial services and capital markets – what’s next for the real-world implementation of AITech? · The innovating customer – users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness · Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the ‘unbundled corporation’ & the future of work, social responsibility, sustainability, and the new leadership imperatives · Ethical considerations of deploying Al solutions and why explainable Al is so important |
| blockchain technology in banking: Regulation of Cryptocurrencies and Blockchain Technologies Rosario Girasa, 2018-06-29 The book highlights the rise of Bitcoin, which is based on blockchain technology, and some of the many types of coins and tokens that emerged thereafter. Although Bitcoin and other cryptocurrencies have made national and international news with their dramatic rise and decline in value, nevertheless the underlying technology is being adopted by both industry and governments, which have noted the benefits of speed, cost efficiency, and protection from hacking. Based on numerous downloaded articles, laws, cases, and other materials, the book discusses the digital transformation, the types of cryptocurrencies, key actors, and the benefits and risks. It also addresses legal issues of digital technology and the evolving U.S. federal regulation. The varying treatment by individual U.S. states is reviewed together with attempts by organizations to arrive at a uniform regulatory regime. Both civil and criminal prosecutions are highlighted with an examination of the major cases that have arisen. Whether and how to tax cryptocurrency transactions both in the U.S. and internationally are analyzed, and ends with a speculative narrative of future developments. |
| blockchain technology in banking: Entrepreneurial Action Andrew C. Corbett, Jerome A. Katz, 2012-07-17 Volume 14 addresses the central issue of entrepreneurial action: while many factors are important to the phenomenon of entrepreneurship, entrepreneurship does not happen until someone takes action! |
| blockchain technology in banking: Applications of Blockchain Technology in Business Mohsen Attaran, Angappa Gunasekaran, 2019-09-25 The book discusses the various ways that blockchain technology is changing the future of money, transactions, government, and business. The first two chapters walk through the foundation of blockchain. Chapters 3–12 look at applications of blockchain in different industries and highlight its exciting new business applications. It show why so many companies are implementing blockchain, and present examples of companies who have successfully employed the technology to improve efficiencies and reduce costs. Chapter 13 highlights blockchain’s powerful potential to foster emerging markets and economies including smart cities, value-based healthcare, decentralized sharing economy, machine to machine transactions, data-sharing marketplace, etc. Chapter 14 offers a conceptual model, provides information and insights, and covers a step-by-step approach to plan and develop blockchain-based technology. |
| blockchain technology in banking: Blockchain Technology and Applications for Digital Marketing Bansal, Rohit, Malyadri, Pacha, Singh, Amandeep, Pervez, Asif, 2021-06-25 Blockchain is a digital, decentralized technology that is continually growing and making quite a mark in digital marketing. Blockchain has brought a drastic change to technology in the last few years, and it is referred to as distributed ledger technology (DLT), which makes the historical backdrop of any computerized resource unalterable and straightforward using decentralization and cryptographic hashing. Blockchain is transforming digital marketing by removing companies’ abilities to pull data from customers without also offering to reimburse them for its value. Marketers can leverage the technology’s positive attributes that customers are searching for in today’s digital landscape, both in transparency and data protection. In terms of digital marketing, blockchain is one of the most important topics for its applications in the marketing field. Blockchain Technology and Applications for Digital Marketing provides insights on blockchain technology and its applications in digital marketing. This book grants a comprehensive understanding of how this technology is functioning within modern marketing and how it can influence the future of the digital marketing industry. The chapters cover the applications of blockchain, benefits and challenges, disruptive innovations in digital marketing, privacy and security concerns, and the recent trends of blockchain in digital marketing. It is ideally intended for marketers, advertisers, brand managers, executives, managers, IT specialists and consultants, researchers, businesses, practitioners, stakeholders, academicians, and students interested in blockchain technology and its role in digital marketing. |
| blockchain technology in banking: Artificial Intelligence Marco Antonio Aceves-Fernandez, 2018-06-27 Artificial intelligence (AI) is taking an increasingly important role in our society. From cars, smartphones, airplanes, consumer applications, and even medical equipment, the impact of AI is changing the world around us. The ability of machines to demonstrate advanced cognitive skills in taking decisions, learn and perceive the environment, predict certain behavior, and process written or spoken languages, among other skills, makes this discipline of paramount importance in today's world. Although AI is changing the world for the better in many applications, it also comes with its challenges. This book encompasses many applications as well as new techniques, challenges, and opportunities in this fascinating area. |
| blockchain technology in banking: Fintech and Financial Services Mr.Dong He, Mr.Ross B Leckow, Mr.Vikram Haksar, Mr.Tommaso Mancini Griffoli, Nigel Jenkinson, Ms.Mikari Kashima, Tanai Khiaonarong, Ms.Celine Rochon, Hervé Tourpe, 2017-06-19 A new wave of technological innovations, often called “fintech,” is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper sets out an economic framework for thinking through the channels by which fintech might provide solutions that respond to consumer needs for trust, security, privacy, and better services, change the competitive landscape, and affect regulation. It combines a broad discussion of trends across financial services with a focus on cross-border payments and especially the impact of distributed ledger technology. Overall, the paper finds that boundaries among different types of service providers are blurring; barriers to entry are changing; and improvements in cross-border payments are likely. It argues that regulatory authorities need to balance carefully efficiency and stability trade-offs in the face of rapid changes, and ensure that trust is maintained in an evolving financial system. It also highlights the importance of international cooperation. |
| blockchain technology in banking: Disrupting Finance Theo Lynn, John G. Mooney, Pierangelo Rosati, Mark Cummins, 2018-12-06 This open access Pivot demonstrates how a variety of technologies act as innovation catalysts within the banking and financial services sector. Traditional banks and financial services are under increasing competition from global IT companies such as Google, Apple, Amazon and PayPal whilst facing pressure from investors to reduce costs, increase agility and improve customer retention. Technologies such as blockchain, cloud computing, mobile technologies, big data analytics and social media therefore have perhaps more potential in this industry and area of business than any other. This book defines a fintech ecosystem for the 21st century, providing a state-of-the art review of current literature, suggesting avenues for new research and offering perspectives from business, technology and industry. |
| blockchain technology in banking: Distributed Ledger Technology and Digital Assets Asian Development Bank, 2019-06-01 This report offers an analytical framework that allows for more systemic assessments of distributed ledger technology (DLT) and its applications. It examines the evolution and typology of the emergent technology, its existing and projected applications, and regulatory and policy issues that they entail. This report highlights the trends, concerns, and potential opportunities of DLTs, especially for Asian markets. It also identifies the benefits and risks to using DLT and offers a functional and proportional approach to these issues. |
| blockchain technology in banking: Interdisciplinary Research in Technology and Management Satyajit Chakrabarti, Rintu Nath, Pradipta Kumar Banerji, Sujit Datta, Sanghamitra Poddar, Malay Gangopadhyaya, 2021-09-14 The conference on ‘Interdisciplinary Research in Technology and Management” was a bold experiment in deviating from the traditional approach of conferences which focus on a specific topic or theme. By attempting to bring diverse inter-related topics on a common platform, the conference has sought to answer a long felt need and give a fillip to interdisciplinary research not only within the technology domain but across domains in the management field as well. The spectrum of topics covered in the research papers is too wide to be singled out for specific mention but it is noteworthy that these papers addressed many important and relevant concerns of the day. |
| blockchain technology in banking: Blockchain Development for Finance Projects Ishan Roy, 2020-01-31 A practical blockchain handbook designed to take you through implementing and re-engineering banking and financial solutions and workflows using eight step-by-step projects Key FeaturesImplement various end-to-end blockchain projects and learn to enhance present-day financial solutionsUse Ethereum, Hyperledger, and Stellar to build public and private decentralized applicationsAddress complex challenges faced in the BFSI domain using different blockchain platform servicesBook Description Blockchain technology will continue to play an integral role in the banking and finance sector in the coming years. It will enable enterprises to build transparent and secure business processes. Experts estimate annual savings of up to 20 billion dollars from this technology. This book will help you build financial apps using blockchain, guiding you through enhancing popular products and services in the banking and finance sector. The book starts by explaining the essential concepts of blockchain, and the impact of blockchain technology on the BFSI sector. Next, you'll delve into re-designing existing banking processes and building new financial apps using blockchain. To accomplish this, you'll work through eight blockchain projects. By demonstrating the entire process, the book helps you understand everything from setting up the environment and building frontend portals to system integration and testing apps. You will gain hands-on experience with the Ethereum, Hyperledger Fabric, and Stellar to develop private and public decentralized apps. Finally, you'll learn how to use ancillary platforms and frameworks such as IPFS, Truffle OpenZeppelin, and MetaMask. By the end of this blockchain book, you'll have an in-depth understanding of how to leverage distributed ledgers and smart contracts for financial use cases. What you will learnDesign and implement blockchain solutions in a BFSI organizationExplore common architectures and implementation models for enterprise blockchainDesign blockchain wallets for multi-purpose applications using EthereumBuild secure and fast decentralized trading ecosystems with BlockchainImplement smart contracts to build secure process workflows in Ethereum and Hyperledger FabricUse the Stellar platform to build KYC and AML-compliant remittance workflowsMap complex business workflows and automate backend processes in a blockchain architectureWho this book is for This book is for blockchain and Dapps developers, or anyone looking for a guide to building innovative and highly secure solutions in the fintech domain using real-world use cases. Developers working in financial enterprises and banks, and solution architects looking to build brand new process flows using blockchain technology will also find the book useful. Experience with Solidity programming and prior knowledge of finance and trade are required to get the most out of this book. |
| blockchain technology in banking: Blockchain and AI Technology in the Industrial Internet of Things Pani, Subhendu Kumar, Lau, Sian Lun, Liu, Xingcheng, 2021-01-08 Blockchain and artificial intelligence (AI) in industrial internet of things is an emerging field of research at the intersection of information science, computer science, and electronics engineering. The radical digitization of industry coupled with the explosion of the internet of things (IoT) has set up a paradigm shift for industrial and manufacturing companies. There exists a need for a comprehensive collection of original research of the best performing methods and state-of-the-art approaches in this area of blockchain, AI, and the industrial internet of things in this new era for industrial and manufacturing companies. Blockchain and AI Technology in the Industrial Internet of Things compares different approaches to the industrial internet of things and explores the direct impact blockchain and AI technology have on the betterment of the human life. The chapters provide the latest advances in the field and provide insights and concerns on the concept and growth of the industrial internet of things. While including research on security and privacy, supply chain management systems, performance analysis, and a variety of industries, this book is ideal for professionals, researchers, managers, technologists, security analysts, executives, practitioners, researchers, academicians, and students looking for advanced research and information on the newest technologies, advances, and approaches for blockchain and AI in the industrial internet of things. |
| blockchain technology in banking: Blockchain Technology and the Law Muharem Kianieff, 2019-03-27 Blockchain Technology and the Law: Opportunities and Risks is one of the first texts to offer a critical analysis of Blockchain and the legal and economic challenges faced by this new technology. This book will offer those who are unfamiliar with Blockchain an introduction as to how the technology works and will demonstrate how a legal framework that governs it can be used to ensure that it can be successfully deployed. Discussions included in this book: - an introduction to smart contracts, and their potential, from a commercial and consumer law perspective, to change the nature of transactions between parties; - the impact that Blockchain has already had on financial services, and the possible consumer risks and macro-economic issues that may arise in the future; - the challenges that are facing global securities regulators with the development of Initial Coin Offerings and the ongoing risks that they pose to the investing public; - the risk of significant privacy breaches due to the online public nature of Blockchain; and - the future of Blockchain technology. Of interest to academics, policy-makers, technology developers and legal practitioners, this book will provide a thorough examination of Blockchain technology in relation to the law from a comparative perspective with a focus on the United Kingdom, Canada and the United States. |
| blockchain technology in banking: Financial Management In The Digital Economy David Kuo Chuen Lee, Ding Ding, Chong Guan, 2021-12-02 Financial Management in the Digital Economy adopts an integrated approach to synthesize the various areas in finance into a consolidated framework and implements the theories and practices in the world of digital economy. The first part of this book extends the fundamentals of asset management to digital assets, and also covers topics like cryptocurrency and blockchain technology. The next part of the volume discusses the concept of financial inclusion, digital innovations and technology-enabled business model innovations in the financial sector.This book reviews the finance and FinTech ecosystem to provide insights into the most important technological developments in the financial services to better understand the future trends, challenges as well as opportunities for both the incumbents and the start-ups in the fast-changing finance world. |
| blockchain technology in banking: The Rise of Digital Money Mr.Tobias Adrian, Mr.Tommaso Mancini Griffoli, 2019-07-15 This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others. |
| blockchain technology in banking: Fintech and Islamic Finance Nafis Alam, Lokesh Gupta, Abdolhossein Zameni, 2019-10-02 Financial Technology (Fintech) has revolutionized the financial world as one of the fastest-growing segments in both the technology and financial sectors. With the usage of underlying principles of Blockchain technology, Fintech is bringing the financial community together and making financial services accessible to everyone. Fintech has far-reaching implications for Islamic finance such as banking, investment, insurance (takaful) and wealth management, which are benefitting from this usage. This book provides a comprehensive review of how Fintech is shaping the Islamic finance industry through three key aspects: Digitalization, Development and Disruption. The book will provide insight on the Shariahtech (Fintech in line with Shariah principle) and its application in the Islamic finance industry. The book also gives an overview of Blockchain and Fintech evolution and how they act as the building blocks of the digital financial landscape. Readers of the book will also get a detailed discernment on the Islamic viewpoint on cryptocurrency as well as the application of the smart contract in different Islamic financial services. The book provides students, academics and researchers with a detailed description of the Blockchain and Fintech application in Islamic finance. |
| blockchain technology in banking: The Economics of Fintech Sahoko Kaji, Teruo Nakatsuma, Masahiro Fukuhara, 2021-02-20 This book is a collection of academic lectures given on fintech, a topic that has been written about extensively but only from a business or technological point of view. In contrast to other publications on the subject, this book shows the reader how fintech should be understood in relation to economics, financial theory, policy, and law. It provides introductory explanations on fintech-related concepts and instruments such as blockchains, crypto assets, machine learning, high-frequency trading, and AI. The collected lectures also point to surrounding issues including start-ups, monetary policy, asset management, cyber and other security, and stability of financial systems. The authors include professors, a former central bank official, current officials at Japan’s Financial Services Authority, a lawyer, the former dean of the Asian Development Bank Institute, and private sector professionals at the frontline of fintech. The book is most suitable for those both within and outside of academia who are beginning to learn about fintech and wish to successfully take part in the revolution that is certain to have wide-ranging effects on our economy and society. |
| blockchain technology in banking: ValueWeb Chris Skinner, 2016-01-15 |
| blockchain technology in banking: Bank 4.0 Brett King, 2018-08-15 In the final book in the digital “BANK” series, Brett King tackles the topic of whether banks have a future at all in the emerging, technology embedded world of the 21st century. In 30-50 years when cash is gone, cards are gone and all vestiges of the traditional banking system have been re-engineered in real-time, what exactly will a bank look like? How will we reimagine a bank account, identity, value, assets, investments? hen stepping back from this vision of the future, King and his cadre of ‘disruptors’ and Fintech mafia chronicle the foundations of this new banking ecosystem today. From selfie-pay in China, blockchain in Africa, self-driving cars with their own bank accounts and augmented reality tech that informs the future design of banking systems, this proves once and for all that we’re not in Wall Street anymore Toto. Bank 4.0 is what banking will become. The Russian edition of Bank 4.0 was recognised as the best book by a foreign author (2019) at the Business Book of the Year Award organised by PwC Russia. |
| blockchain technology in banking: Applications of Block Chain technology and Artificial Intelligence Mohammad Irfan, |
| blockchain technology in banking: Research Handbook on Digital Transformations F. Xavier Olleros, Majlinda Zhegu, 2016-09-30 The digital transition of our economies is now entering a phase of broad and deep societal impact. While there is one overall transition, there are many different sectoral transformations, from health and legal services to tax reports and taxi rides, as well as a rising number of transversal trends and policy issues, from widespread precarious employment and privacy concerns to market monopoly and cybercrime. They all are fertile ground for researchers, as established laws and regulations, organizational structures, business models, value networks and workflow routines are contested and displaced by newer alternatives. This Research Handbook offers a rich and interdisciplinary synthesis of some of the current thinking on the digital transformations underway. |
What is blockchain and what can it do? - The World Economic Forum
Apr 5, 2021 · Enter blockchain, which has the potential to disrupt that process completely. And not just for payments, but other forms of transaction including the flow of goods and information …
Blockchain is in from the cold - The World Economic Forum
Jan 15, 2024 · This growing embrace of blockchain is reflected in the strong interest among traditional financial firms. In just the last few months, BlackRock, JP Morgan, Standard …
All you need to know about blockchain, explained simply
Jun 17, 2016 · Using cryptography to keep exchanges secure, blockchain provides a decentralized database, or “digital ledger”, of transactions that everyone on the network can …
The digital commons: using blockchain for good governance
Feb 7, 2025 · Furthermore, blockchain facilitates the tokenization of contributions and rewards, creating new incentive structures to motivate and fairly compensate participants. Smart …
Blockchain: what it is, how it really can change the world
Jun 23, 2016 · Blockchain – the technology behind the bitcoin digital currency – is a decentralized public ledger of transactions that no one person or company owns or controls. Instead, every …
How blockchain technology is fixing payments and what's next
Apr 29, 2021 · Blockchain technologies are connecting global financial systems so they are easily interoperable, efficient, affordable and accessible. This can reduce the cost and time of cross …
Blockchain has high potential but be aware of cyber threats
Feb 21, 2023 · Blockchain is a key technology of the Fourth Industrial Revolution, creating new innovative opportunities and disrupting existing systems. Decentralized digital transformation …
How blockchain can enhance the security of healthcare data
Dec 5, 2023 · Blockchain-powered data storage can enhance the security of healthcare data, and minimize the risks linked to cybersecurity breaches. Significant advancements in healthcare …
How tokenization is transforming finance and investment
Dec 10, 2024 · One of the major financial discussion themes at 2024’s Annual Meeting was how physical and financial assets can be ‘tokenized’, meaning that a digital representation of the …
Tokenization and on-chain capital markets are reshaping global …
Mar 24, 2025 · Blockchain-based capital market infrastructure is enhancing efficiency, liquidity and interoperability by enabling 24/7 asset movement, instant settlement and improved …
What is blockchain and what can it do? - The World Economic Forum
Apr 5, 2021 · Enter blockchain, which has the potential to disrupt that process completely. And not just for payments, but other forms of transaction including the flow of goods and information …
Blockchain is in from the cold - The World Economic Forum
Jan 15, 2024 · This growing embrace of blockchain is reflected in the strong interest among traditional financial firms. In just the last few months, BlackRock, JP Morgan, Standard …
All you need to know about blockchain, explained simply
Jun 17, 2016 · Using cryptography to keep exchanges secure, blockchain provides a decentralized database, or “digital ledger”, of transactions that everyone on the network can …
The digital commons: using blockchain for good governance
Feb 7, 2025 · Furthermore, blockchain facilitates the tokenization of contributions and rewards, creating new incentive structures to motivate and fairly compensate participants. Smart …
Blockchain: what it is, how it really can change the world
Jun 23, 2016 · Blockchain – the technology behind the bitcoin digital currency – is a decentralized public ledger of transactions that no one person or company owns or controls. Instead, every …
How blockchain technology is fixing payments and what's next
Apr 29, 2021 · Blockchain technologies are connecting global financial systems so they are easily interoperable, efficient, affordable and accessible. This can reduce the cost and time of cross …
Blockchain has high potential but be aware of cyber threats
Feb 21, 2023 · Blockchain is a key technology of the Fourth Industrial Revolution, creating new innovative opportunities and disrupting existing systems. Decentralized digital transformation …
How blockchain can enhance the security of healthcare data
Dec 5, 2023 · Blockchain-powered data storage can enhance the security of healthcare data, and minimize the risks linked to cybersecurity breaches. Significant advancements in healthcare …
How tokenization is transforming finance and investment
Dec 10, 2024 · One of the major financial discussion themes at 2024’s Annual Meeting was how physical and financial assets can be ‘tokenized’, meaning that a digital representation of the …
Tokenization and on-chain capital markets are reshaping global …
Mar 24, 2025 · Blockchain-based capital market infrastructure is enhancing efficiency, liquidity and interoperability by enabling 24/7 asset movement, instant settlement and improved …
