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Blockchain is a technology that underlies the running of data without relying on a centralized server to avoid the risk of downtime. The blockchain system comes by transforming a centralized approach into decentralization.
Blockchain technology is believed to increase the fintech industry involving many parties and still use manual and rigid systems..
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This technological breakthrough is also believed to be effective to encourage the realization of security and accuracy of transaction data, so banks need not worry about the security system..
This was disclosed Fanny Verona, Managing Director of Digital Artha Media Corporation (DAM Corp.). DAM Corp. is a fintech-enabler company that develops white blockchain solutions for corporations in various financial sectors.
Fanny said there is now a huge potential for banks and other businesses to develop technologies that can be used to process payment activities to be faster, efficient and secure..