Bitfinance Solutions

what is blockchain and what it means for banks & financial institution blockchain technology uses cryptography and distributed databases to record transactions in an immutable way in an ever-growing system that contains interlinked records, which are all synced with the same information. this allows it to function as an open, decentralized ledger which keeps track of all transactions that take place between two parties in a permanent and verifiable way. there are fewer fintech technologies that have proved so disruptive to the banking industry than the blockchain. initially developed as a database platform for cryptocurrencies, the tech has matured into a viable alternative to traditional channels that are used to conduct financial transactions. banks & financial institution are realizing they have to find ways to use the technology; otherwise, it will render them obsolete. interestingly these institutions need not worry much as the blockchain can help improve them, thus ensuring the