Too Long; Didn't Read
Bitcoin made its spectacular announcement as a result of the financial disaster led by centralized banks and government, back in 2009. The underlying technology of bitcoin and cryptocurrencies- blockchain- is all set to solve the underlying issues pertaining to the banking and finance sector. 90% of European and American banks are already exploring blockchain. Deployment of blockchain technology can save banks more than $27 billion annually by 2030. The distributed ledger technology can potentially save banks billions of dollars annually by reducing costs, performing efficient and faster transactions, and providing one uniform ‘ledger’ copy across multiple platforms.