Blockchain Innovation and Its Impact on Business Banking Operations

Li, L, Sy, M and McMurray, A 2018, 'Blockchain Innovation and Its Impact on Business Banking Operations', Advances in Parallel Computing, vol. 29, pp. 583-598.


Document type: Journal Article
Collection: Journal Articles

Title Blockchain Innovation and Its Impact on Business Banking Operations
Author(s) Li, L
Sy, M
McMurray, A
Year 2018
Journal name Advances in Parallel Computing
Volume number 29
Start page 583
End page 598
Total pages 16
Publisher IOS Press
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.
Subject Database Management
Keyword(s) Banking
Blockchain
Business Operations
Risk Management
DOI - identifier 10.3233/978-1-61499-814-3-583
Copyright notice © 2018 The authors and IOS Press. All rights reserved.
ISSN 0927-5452
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