Blockchain Innovation and Its Impact on Business Banking Operations

Larry Li, Malick Sy, Adela McMurray

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

1 Citation (Scopus)

Abstract

Blockchain has become one of the hottest technologies in the market, and has immense potential to reshape current business operations in multiple industries, particularly the banking sector. Its impact comes through the facilitation of fund transaction, securities trading, data analytics, and risk management. This study identifies the key characteristics of blockchain that cultivates competitive advantages applied in the banking sector. We discuss how blockchain's capabilities cultivate a new form of data monitoring, analysis and storage. We identify the nine key challenges to be mindful of, before considering a strategic shift onto an entire infrastructure based on such new blockchain technology.

Original languageEnglish
Title of host publicationData Intensive Computing Applications for Big Data
EditorsMamta Mittal, Valentina Emillia Balas, D. Jude Hemanth, Raghvendra Kumar
PublisherIOS Press BV
Pages583-598
Number of pages16
Volume29
ISBN (Electronic)9781614998143
ISBN (Print)9781614998136
DOIs
Publication statusPublished - 2018
Externally publishedYes

Publication series

NameAdvances in Parallel Computing
Volume29
ISSN (Print)0927-5452
ISSN (Electronic)1879-808X

Keywords

  • Banking
  • Blockchain
  • Business Operations
  • Risk Management

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