International Research Journal on Advanced Science Hub

Abstract

A Blockchain technology is the basis of Bitcoin which has acknowledged widespread attentions recently. It is also known as distributed, indisputable and digital ledger which registers the transactions in the same order it is generated in a close real-time. In blockchain, transactions take place in a decentralized manner. The subsequent transactions can be included to the ledger only by the agreement of the participants in the network which is known as nodes The subsequent transactions can be added to the ledger only by the agreement of the participants in the network which is known as nodes. The applications of blockchain extending from banking, crypto currency and financial services, risk managements, social services and Internet of things. This paper explains a broad impression of blockchain technology in banking applications and recent advances.