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Journal of Globe Scientific Reports

Volume 2, 2020 - Issue 1

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Journal Article

Blockchain Technology in Finance: Transforming Transactions and Security

by Leila Al-Khalidi 1,*
1
Leila Al-Khalidi University: University of Jordan Country: Jordan
*
Author to whom correspondence should be addressed.
JGSR  2020 2(1):6; https://doi.org/10.xxxx/xxxxxx
Received: 20 March 2020 / Accepted: 1 June 2020 / Published Online: 30 June 2020
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Abstract

Blockchain technology has revolutionized the finance industry by transforming the way transactions are conducted and enhancing security. This paper explores the significance of blockchain in finance, emphasizing its role in reducing fraud, increasing transparency, and enabling decentralized finance (DeFi) applications. It delves into various aspects, including distributed ledger technology, smart contracts, and cryptocurrency adoption. The discussion includes the benefits of blockchain in finance, such as cost savings, faster settlements, and financial inclusion. Moreover, the paper addresses the challenges and considerations in implementing blockchain solutions, including regulatory compliance, scalability, and privacy concerns. Through a review of blockchain innovations and financial applications, the study highlights the positive outcomes associated with the adoption of blockchain technology in finance, including improved financial services and trust in the financial ecosystem.

Keywords: Blockchain Technology; Finance; Transactions; Security; Distributed Ledger; Smart Contracts; Cryptocurrency; Decentralized Finance (DeFi); Transparency.;
Copyright: © 2020 by Al-Khalidi. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Al-Khalidi, L. Blockchain Technology in Finance: Transforming Transactions and Security. Journal of Globe Scientific Reports, 2020, 2, 6. doi:10.xxxx/xxxxxx
AMA Style
Al-Khalidi L. Blockchain Technology in Finance: Transforming Transactions and Security. Journal of Globe Scientific Reports; 2020, 2(1):6. doi:10.xxxx/xxxxxx
Chicago/Turabian Style
Al-Khalidi, Leila 2020. "Blockchain Technology in Finance: Transforming Transactions and Security" Journal of Globe Scientific Reports 2, no.1:6. doi:10.xxxx/xxxxxx

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References

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  3. Narayanan, A., Bonneau, J., Felten, E., Miller, A., & Goldfeder, S. (2016). Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction. Princeton University Press.
  4. Tapscott, D., & Tapscott, A. (2016). Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and the World. Penguin.
  5. Zohar, A. (2015). Bitcoin: under the hood. Communications of the ACM, 58(9), 104-113.