Blockchain is one of the hottest sectors in the market, yet few investors really understand what the blockchain is, and how it works. This is why DMG Blockchain Solutions is presenting Blockchain Made Simple. Hosted by Dan Reitzik, Blockchain expert and CEO of DMG Blockchain Solutions; Blockchain made Simple is a series of fun, easy to digest videos, answering questions like What is Cryptomining? What is Bitcoin? and How are Bitcoins created and earned?
How Can Blockchain Be Used in Banking?
Using blockchain technology ensures that no data can ever be altered. Banks like Deutsche Bank and HSBC are using blockchain for international payments. PWC is recording audit compliance using blockchain. Blockchain is simply a technology – like a digital accounting ledger– that brings total transparency and security to many types of transactions. In banking, that means; reduced fraud costs, reduced risks to making loans and therefore cheaper interest rates, faster and cheaper international wire payments and better ways to protect your online identity. Blockchain technology runs on a worldwide network of computers that no single bank or organization controls.
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