3 Technologies That Could Turn the Banking Industry on Its Head in 2016No industry has completely avoided technology-driven disruption over the past 25 years, but some have certainly undergone greater transformations than others. The banking business, for example, is one industry that, at its core, is largely unchanged.
In 2016, that could start to change though thanks to three powerful technologies poised to reshape how financial business is done around the world.
Forget bitcoin. The block chain is the real revolution.
You've probably heard of bitcoin, but you may not be familiar with the technology that allows bitcoin to exist: the block chain.
The block chain is the public ledger that records every bitcoin transaction around the world. It is a distributed network across the Internet that uses a system of mathematically verified keys, or signatures, to ensure bitcoins are transferred from and into the correct accounts. The keys ensure no transactions can be altered after the fact, and that balances are updated and correct before and after each transaction. The distributed network means no single entity has control of the data, increasing transparency and trust.
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