STUDY ON IMPACT OF BLOCKCHAIN TECHNOLOGY ON INDIAN BANKING SECTOR
Krishnan Kumar, Johnson Pereira, Lavin. A. Bhawnani · Studies in Indian Place Names · 2020
New technology has changed the commercial world in last three decades. To continue the same, the evolution of cryptocurrency emerged as the modern phenomena. This cryptocurrency concept took the whole world in awe due to its increasing market value. Even though the concept of cryptocurrency didn't lasted long in the world financial markets, the technology behind it need more study for its application in different areas. This new technology is called blockchain technology, which works on a universal software. This research paper focuses on the blockchain technology which acts as a universal database for all the transactions block by block in a chain. In India and in many other countries, several companies have adopted this blockchain technology for application in various sectors like banking, insurance, finance and other areas. This is a conceptual study of benefits and challenges faced by Indian banking sector in the application of blockchain technology in banking sector in India.