Contribution Of Block Chain Technology To The Banking Sector

Abstract

Block Chain technology allows the storage and transmission of information in digital format without any intervention from trusted third parties (Middle Man), it is also characterized by decentralization and the ability to manage a large number of databases distributed around the world. . It has numerous advantages that can improve several sectors such as finance, health, politics, insurance, energy, etc. The financial sector is one of the sectors most impacted by this technology. The latter uses the P2P protocol which could facilitate the process of transactions while lowering their relative costs and reducing the time for their completion. The purpose of this communication is to highlight the opportunities that block chain technology could bring to the operation of banks.