Understanding Modern Banking Ledgers through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money
It addresses potential disruptions in banking for financial institutions and users, but is incremental as it provides an overview without new findings.
The paper explores how blockchain technology can transform banking by enabling global money remittance, smart contracts, and automated ledgers, but does not present specific results or numbers.
In this chapter we provide an overview of the concept of blockchain technology and its potential to disrupt the world of banking through facilitating global money remittance, smart contracts, automated banking ledgers and digital assets. In this regard, we first provide a brief overview of the core aspects of this technology, as well as the second-generation contract-based developments. From there we discuss key issues that must be considered in developing such ledger based technologies in a banking context.