Welcome to the InfoSci Platform
Reference Hub2
Blockchain in the Banking Sector: Revolution or Digital Disruption?

Blockchain in the Banking Sector: Revolution or Digital Disruption?

Tanveer Kajla, Vishal Sarin, Sahil Raj
Copyright: © 2022 |Pages: 9
ISBN13: 9781668441336|ISBN10: 1668441330|ISBN13 Softcover: 9781668441343|EISBN13: 9781668441350
DOI: 10.4018/978-1-6684-4133-6.ch008
Cite Chapter Cite Chapter

MLA

Kajla, Tanveer, et al. "Blockchain in the Banking Sector: Revolution or Digital Disruption?." Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance, edited by S. L. Gupta, et al., IGI Global, 2022, pp. 151-159. https://doi.org/10.4018/978-1-6684-4133-6.ch008

APA

Kajla, T., Sarin, V., & Raj, S. (2022). Blockchain in the Banking Sector: Revolution or Digital Disruption?. In S. Gupta, P. Kansra, & G. Kukreja (Eds.), Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance (pp. 151-159). IGI Global. https://doi.org/10.4018/978-1-6684-4133-6.ch008

Chicago

Kajla, Tanveer, Vishal Sarin, and Sahil Raj. "Blockchain in the Banking Sector: Revolution or Digital Disruption?." In Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance, edited by S. L. Gupta, Pooja Kansra, and Gagan Kukreja, 151-159. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-6684-4133-6.ch008

Export Reference

Mendeley
Favorite

Abstract

Financial institutions opting for blockchain technology raise controversy about how this new technology can disrupt the traditional banking sector. Many issues like a decentralized system with no middlemen and untrusted parties pose serious threats to the banking system. Hence, there is a serious need to do research on the impact of blockchain on financial institutions, especially in the banking sector, to understand the influence of blockchain as a disruptor and a technology that is revolutionizing the banking sector. The chapter will explain the concepts and role of blockchain in the banking domain. Secondly, the ongoing criticism of the blockchain as a disruptor in the banking domain is answered in this chapter. Third, the role of blockchain in the transformation of the banking sector is discussed by explaining the blockchain process in the key banking services.

Request Access

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.