The Financial Services industry is undergoing a dramatic transformation driven by innovative technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT). Blockchain is one of the most popular and promising technologies from a FinTech standpoint. It is a decentralized and secure ledger that can be used to maintain records of transactions across a peer-to-peer network. Blockchain has many applications in the Banking and Financial Services Industry (BFSI), such as cryptocurrencies, payment processing, trade finance, and insurance. It is also helping banks to re-engineer the entire process to make it more cost-effective, efficient, and reliable, as well as to design newer models of credit and thereby fuel further growth in international business.
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