Block chain for Financial Services

Blockchain has the ability to change various corners of the financial industry. From the approach we have a tendency to pay cash with the cryptocurrencies like Bitcoin, to banks and financial institutions settling payments through Ripple, blockchain is changing the world. Employing blockchain within the financial sector reduces the value of online transactions and simultaneously increases their authenticity and security. It is also being used to protect sensitive records and to authenticate the identity of a user. It will drastically improve business processes by liberating transactional records from the historical constraint of isolation and eliminating the necessity for verification.