CCC Blockchain Paper

User Generated

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Computer Science

Cumberland County College

Description

Scenario:
We have viewed how Blockchain has made a significant impact on businesses and industries.

Question:
Select one industry and highlight the advancements Blockchain has had on that single industry.


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Explanation & Answer

Attached.

Running Head: ADVANCES OF BLOCKCHAIN IN THE BANKING AND FINANCE INDUSTRY

Advances of blockchain in the banking and finance industry
Name
Institution of Affiliation

ADVANCES OF BLOCKCHAIN IN THE BANKING AND FINANCE INDUSTRY

2

Advances of blockchain in the banking and finance industry
Blockchain is predicted to be the next big thing in the business sector. Many businesses
are now found to aggressively pursue the concept, thus investing billions of money in blockchain
projects. Given this case, blockchain is not a mystery to any business anymore. An analysis of
the financial sector in regard to the phenomenon shows that 69% of the institutions within this
industry are experimenting it with the numbers rising (Hacioglu, 2019). The aim of this paper is
to outline how blockchain is reshaping financial management to a new whole level.
One of the ways in which blockchain has changed the banking and finance industry is
through enhancing simplified cross-border payments. The virtual transfer of money has always
consumed both time and cost. However, the introduction of the concept of bl...


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