Blockchain technology is considered to be the next generation of fintech infrastructure. The characteristics, including its inherent distributed nature, trusted consensus mechanisms and reliability, as well as the fact that it makes data publicly available, have made banking institutions around the world eager to change their backend systems to use blockchain technology.

Blockchain technology’s high efficiency, low costs and high security have been discussed and explored by various industry experts and intellectuals. This globally recognized disruptive new technology is continuously being examined,researched and applied to create new business models and regulatory services with cooperative thinking. Its globally efficient cooperation method has been bringing the cost of verification and trust down continuously.

Blockchain Challenges