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Blockchain - Coggle Diagram
Blockchain
What is it?
A decentralized, distributed ledger technology that records transactions across multiple computers in a way that ensures security, transparency, and immutability.
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How it works?
Blocks, Transactions, and the Chain
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Blockchain, AI, and State Control of Monetary Policy
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Examples:
JPMorgan Chase's Blockchain Initiatives: Utilizing blockchain for cross-border payments, corporate debt issuance, and to improve the settlement process.
SWIFT GPI: The global banking messaging service's initiative to increase the speed, transparency, and traceability of cross-border payments.
Predictions
Blockchain Integration: Traditional banks will increasingly integrate blockchain technology to enhance security, efficiency, and customer experience.
Collaboration with Fintech and Crypto Platforms: Banks might partner with fintech companies and cryptocurrency platforms to offer a wider range of services, including crypto transactions and digital wallets.
Regulatory Evolution: Financial regulations will evolve to address the challenges and opportunities presented by blockchain and cryptocurrencies, aiming to protect consumers while fostering innovation.
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