Nowadays everything is getting digitized, from education to money. Digitization of banks is one effective initiative by Governments and private banks. Still people are not happy with their services. It is like when we were using 2G network and we wanted faster network. And now we have LTE but still we are getting hungry for the speed. In banks the problem is the delay it makes during the transactions are made. Thanks to people who built Blockchain, a perfect solution for this network.
Yes, [Suspicious link removed]es as blessing for the banking industry. It can eliminate the delay that bank causes when you transfer money from one account to another. But to eliminate a problem one need to understand it first. So the problem with traditional bank is data structure. Our traditional banks uses centralized data so if any transaction is made only bank is there to verify it. All the traffic coming through this go through on system. This makes delay in by some time in sending and receiving money.
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