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LONDON – (BUSINESS WIRE) – December 4, 2018 – Infiniti Research, a world-renowned market intelligence solution provider, announced the completion of their latest article on the.
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Main challenges that influence the adoption of blockchain technology in the banking sector. (Graph: Business Wire)
Blockchain technology has attracted the attention of companies since it was invented. Features such as transparency, security, traceability and efficiency have made the industries optional for this technology. The banking and finance sector is one of the key industries exploring this technology but, with its growing use, the limits associated with blockchain technology have started to hinder its adoption.
"Private keys play a significant role in protecting an individual's data on the blockchain and can not be recovered if moved once, making data vulnerable to hackers"
says an expert from Infiniti Research.
Infiniti Research has helped companies with its strategic insights to predict changing market dynamics and make informed decisions over time.
to learn how your organization can help you make accurate business decisions.
The challenges that hinder the adoption of blockchain technology in the banking sector:
interoperability
With the growth of the banking sector, the need for interoperability has increased. This has led companies to move towards technologies compatible with different systems. Blockchain technology is one of these technologies that can improve the operational feasibility of the banking sector by allowing multiple systems to work together. However, blockchain technology can not be fully implemented because it is difficult for banks to completely eliminate existing processes. Do you want to improve interoperability in your organization? .
private life
Banking and financial institutions are entities that only grow when their clients trust them for their monetary issues. Customers need a certain amount of privacy, which blockchain technology can not provide. Transactions carried out on a blockchain are publicly available. This is the biggest stop for technology. Therefore, it is necessary to explore private blockchains before implementing this technology in the banking sector. Privacy is a major concern for you, knowing how our solutions can help your organization solve this problem.
cryptography
Customer data protection is invariably important for banks. Blockchain technology has components such as private keys, which can protect an individual's data. However, a private key can not be regenerated if lost or lost. This makes the blockchain more vulnerable to hackers because the encrypted data can be easily decrypted. To learn more about the challenges facing blockchain technology in the banking sector,.
About Infiniti Research
Founded in 2003, it is a leading company in the intelligence market that provides intelligent solutions to meet business challenges. Infiniti Research studies markets in over 100 countries to help analyze competitive activity, see beyond market disruptions and develop smart business strategies. To learn more, visit:.
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CONTACT: Infiniti Research
Anirban Choudhury
Marketing Manager
United States: +1 844 778 0600
United Kingdom: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
KEYWORD:
KEYWORD INDUSTRY: TECHNOLOGY DATA MANAGEMENT NETWORK INTERNET SOFTWARE SECURITY FINANCE OF PROFESSIONAL SERVICES
SOURCE: Infiniti research
Copyright Business Wire 2018.
PUB: 12/04/2018 09:17 AM / DISC: 12/04/2018 09:17
http://www.businesswire.com/news/home/20181204005637/en
