ABSTRACT
Blockchain has increased a lot of interest in the last decade in the technological aspect as well as groundbreaking technology. This work systematically reviews blockchain-based applications across the financial and banking domains. This chapter aims to investigate the use of blockchain across all the financial institutions and banking sectors. Earlier, in the past decade, the blockchain was considered to be a part of cryptocurrency, now it has grown beyond that. Blockchain is now considered to be one of the most secured techniques in cryptography which will decentralize data governance and remove the middle management involved in keeping the data. The fascinating peer-to-peer networking (PPN) in blockchain made us realize we can remove the middlemen involved in the transaction that we do in our daily lives, which will eventually lead us to cost-effective work. Also, the recent emergence of blockchain after 2008, in the past market made us curious, eventually encouraged us to explore more about it. This chapter unfolds the unexplored aspects of various blockchain tools and techniques/methods that are available in the market. However, the current understanding of the world is still insufficient and very few aspects are known yet. To verify the claims that are made in several research journals, 104and reports on gray literature as a means to focus on our assessment and capturing the rapidly growing blockchain technology, are included in this review chapter.
