Digitally Distributed ledger

How blockchain can prevent PNB-like frauds Blockchain is a digitally distributed ledger system that records an asset’s movement and ensures point-to-point tracking of information on transaction.. If blockchain technology was used for transactions and accounting, the fraud at Punjab National Bank (PNB) could have been prevented, opine fintech experts. And now, more than ever, is a time when those in power should understand the urgent need to implement this technology in our banking system. This is because frauds are on the rise, especially in in public sector banks. According to a Reserve Bank of India (RBI) report, sourced by Reuters through an RTI, state-run banks have reported 8,670 “loanRead More →