Kongunadu College of Engineering and Technology(Autonomous)

INTRODUCTION TO BLOCKCHAIN TECHNOLOGY Blockchain is a digital technology that stores transaction records in a secure and decentralized manner across multiple computers. Instead of depending on a central authority, blockchain allows network participants to verify and approve transactions collectively. It is widely used in industries such as banking, healthcare, logistics, retail, and government to improve transparency and efficiency. The technology protects data using cryptographic methods, making records difficult to alter or manipulate after they are verified. As digital transformation continues, blockchain is becoming an important solution for building secure, reliable, and transparent business systems. Blockchain is a decentralized digital ledger that securely records and stores transactions across a network of computers. KEY FEATURES OF BLOCKCHAIN TECHNOLOGY 1. Decentralized Network Blockchain distributes data across multiple computers, removing the need for a single controlling au...

Description: This article explores the transformative impact of Blockchain and FinTech on the future of banking. Traditional banking, once dominated by centralized control and slow processes, is being disrupted by these cutting-edge technologies that offer transparency, speed, and accessibility. Blockchain provides a secure, immutable ledger system that reduces fraud, enables instant cross-border payments, supports smart contracts, and empowers decentralized finance (DeFi). Meanwhile. When combined, blockchain and FinTech amplify each other’s strengths. Together, they enable tokenization of real-world assets, streamlined identity verification, and peer-to-peer blockchain-based lending. The article highlights the benefits—including faster transactions, lower costs, and improved security—as well as challenges like regulatory uncertainty and limited consumer awareness. Looking ahead, the integration of Central Bank Digital Currencies (CBDCs), interoperable blockchain ecosystems, and green...