ABSTRACT
Blockchain is developing rapidly as a popular area of research these days. The blockchain is a technology employed to run bitcoin. It is distributed database having a list of records growing continuously called blocks in order to certify the security of individuals blocks from adjustment and tampering. Every block is connected to other blocks by keeping the hash of the previous block in the chain. This chapter discusses the technical aspects of blockchain and the banking sector. One of the greatest threats to the banking sector today is technology. Whether it is coming from large technology firms, or from new financial technology, traditional banks are beginning to take notice. One potential disrupter for the financial business today comes from applications involving blockchain technology. The system of distributed ledgers that underlie cryptocurrencies such as Bitcoin. Large financial institutions from investment banks to stock exchanges to central banks are all beginning to work on their own blockchain-based solutions to stay on top of this innovation.
