A blockchain is a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Banking sector is the sector
wherein one can see the potential of using this technology at wide scale. Considering the above scenarios, discuss the following:

a. Explain the features and contracts in Blockchains and why most of the organizations are adopting this technology?

b. Discuss how Blockchains can help the Banking Sector in maintaining the databases and providing other advanced services and facilities to its customers.

Answer rating: 100% (QA)

a Features and Concepts in Blockchains 1 Decentralization Blockchain operates on a decentralized network of computers meaning there is no central authority Each participant in the network has a copy o... View the full answer