Blockchain Innovation and Its Impact on Business Banking Operations

Larry Li; Malick Sy; Adela McMurray

doi:10.3233/978-1-61499-814-3-583

Blockchain Innovation and Its Impact on Business Banking Operations

Larry Li, Malick Sy, Adela McMurray

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

2 Citations (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 language	English
Title of host publication	Data Intensive Computing Applications for Big Data
Editors	Mamta Mittal, Valentina Emillia Balas, D. Jude Hemanth, Raghvendra Kumar
Publisher	IOS Press
Pages	583-598
Number of pages	16
Volume	29
ISBN (Electronic)	9781614998143
ISBN (Print)	9781614998136
DOIs	https://doi.org/10.3233/978-1-61499-814-3-583
Publication status	Published - 2018
Externally published	Yes

Publication series

Name	Advances in Parallel Computing
Volume	29
ISSN (Print)	0927-5452
ISSN (Electronic)	1879-808X

Keywords

Banking
Blockchain
Business Operations
Risk Management

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.3233/978-1-61499-814-3-583Licence: In Copyright

Cite this

@inbook{5314716603384ddeb9bf2470fa676faa,

title = "Blockchain Innovation and Its Impact on Business Banking Operations",

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.",

keywords = "Banking, Blockchain, Business Operations, Risk Management",

author = "Larry Li and Malick Sy and Adela McMurray",

year = "2018",

doi = "10.3233/978-1-61499-814-3-583",

language = "English",

isbn = "9781614998136",

volume = "29",

series = "Advances in Parallel Computing",

publisher = "IOS Press",

pages = "583--598",

editor = "Mamta Mittal and Balas, {Valentina Emillia} and Hemanth, {D. Jude} and Raghvendra Kumar",

booktitle = "Data Intensive Computing Applications for Big Data",

address = "United States",

}

Blockchain Innovation and Its Impact on Business Banking Operations. / Li, Larry; Sy, Malick; McMurray, Adela.
Data Intensive Computing Applications for Big Data. ed. / Mamta Mittal; Valentina Emillia Balas; D. Jude Hemanth; Raghvendra Kumar. Vol. 29 IOS Press, 2018. p. 583-598 (Advances in Parallel Computing; Vol. 29).

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

TY - CHAP

T1 - Blockchain Innovation and Its Impact on Business Banking Operations

AU - Li, Larry

AU - Sy, Malick

AU - McMurray, Adela

PY - 2018

Y1 - 2018

N2 - 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.

AB - 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.

KW - Banking

KW - Blockchain

KW - Business Operations

KW - Risk Management

UR - http://www.scopus.com/inward/record.url?scp=85046343212&partnerID=8YFLogxK

U2 - 10.3233/978-1-61499-814-3-583

DO - 10.3233/978-1-61499-814-3-583

M3 - Chapter

AN - SCOPUS:85046343212

SN - 9781614998136

VL - 29

T3 - Advances in Parallel Computing

SP - 583

EP - 598

BT - Data Intensive Computing Applications for Big Data

A2 - Mittal, Mamta

A2 - Balas, Valentina Emillia

A2 - Hemanth, D. Jude

A2 - Kumar, Raghvendra

PB - IOS Press

ER -

Blockchain Innovation and Its Impact on Business Banking Operations

Abstract

Publication series

Keywords

UN SDGs

Access to Document

Other files and links

Fingerprint

Cite this