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(PDF) Blockchain Technology: Financial Sector Applications

   

Added on  2021-04-17

7 Pages1102 Words114 Views
Running head: RISK OF IMPLEMENTING BLOCK CHAIN IN THE FINANCE INDUSTRYRisk of implementing block chain in the finance industryName of the studentName of the universityAuthor’s note

Table of ContentsIntroduction......................................................................................................................................3Blockchain technology....................................................................................................................3Risks and Threats.............................................................................................................................5Regulatory and governance.........................................................................................................5Privacy and Security....................................................................................................................5Behavioural and transactional risks.............................................................................................5Conclusion.......................................................................................................................................6References........................................................................................................................................7

IntroductionBlockchain technologies are the emerging technologies in the word. The market of theblockchain technology has been rising in the market at a decent speed. However, there arevarious risks involved in the technology.This report focuses on identifying the risk involved in the blockchain technologies in thefinance industry. The report outlines the risks assessment procedure in the finance industry. Arisk assessment procedure has been discussed in the report for mitigating these issues in thefinance industry due to blockchain technology.Blockchain technologyAccording to Zheng, Xie and Wang (2016), blockchain is a digital innovation in themarket that is using the concept of the cryptography, networking, data management andincentive mechanism in order to maintain the financial database of different companies in themarket. This technology has helped in initiating digital currency transfer between parties.Blockchain has been originated from the bitcoins digital currency. This technology has beenimplemented in the finance industry in recent years.

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