Blockchain Technology and Its Impact on a Company's Financial System
Blockchain, a distributed, tamper-proof ledger that records and time-stamps transactions, can remove layers of bureaucracy and financial intermediaries. Like other technologies, it can reduce friction and costs.
- Some 45% of financial intermediaries like money transfer services and stock exchanges fall victim to economic crime every year.
- If blockchain can live up to its promise, there’s potential for it to revolutionize the way companies do business.