HOW WILL BLOCKCHAIN ​​RENEW THE FINANCIAL SECTOR?

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Blockchain technology is a decentralized ledger and is a form of distributed ledger technology (DLT). It's a "bug" where each bust with the digital data as well as the special identification of his past contraceptive as a hash. Since his nature is regarded, creative materials are considered, financial activities and secular work. The technology gained a lot of traction in 2009 when it was used for the Bitcoin cryptocurrency. The unique characteristics of Blockchain can be very useful in the financial sector. How will blockchain technology solve the problems facing the financial sector?




The financial sector has been facing many challenges for a long time. Tremendous advances in technology have solved many problems, but some new technologies have created new problems in the process. There are many fintech solutions available today, which makes it difficult for blockchain financial service providers to decide which one is right for them. Therefore, they are looking for individual solutions that can help solve all the important problems they are facing.

What are the uses of blockchain in finance?


Some of the cases for blockchain in financial services are

 

Overpayment 

lending platforms 

Credit score 

Invoice management and invoice solutions 

Investments 

Government spending


Read More- https://www.leewayhertz.com/10-use-cases-of-blockchain-in-finance/

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