Adoption of Blockchain Technology in Banking and Financial Services

The origin of Blockchain Technology is crypto currencies, where initially this technology was used as a public ledger to record the transactions of crypto currencies. Beyond crypto currencies, Blockchain Technology has been considered to be worth utilising for various sectors like Banking, Financial services, supply chain management and healthcare management based on its promising features such as enhanced authenticity, security and risk management. This Technology with specific characteristics such as Decentralisation, Immutability and Transparency, and security has the potential to upgrade and transform the Banking and Finance sectors. The present research paper is focused on finding the Blockchain technology application areas in selected ten banks, review of literature is based on the views of the various authors on benefits derived by adopting Blockchain technology, a study on top four Blockchain technology platforms or frameworks along with their comparison.