This book presents a review of the transformative impact of fintech and blockchain technologies on the financial industry. The book aims to bridge the gap between technical jargon and practical understanding, making it accessible to a wide audience. It begins by introducing fundamental concepts and tracing the evolution of these technologies. Subsequent chapters explore specific applications such as digital payments, lending, and investment management. The final sections address regulatory challenges, security concerns, and the future outlook for fintech and blockchain.
Key features of the book include:
- Clear and concise explanation of complex technical concepts, making them understandable for both industry professionals and general readers
- Real-world case studies and examples to illustrate the practical applications of fintech and blockchain
- Insights into the regulatory environment and potential risks associated with these technologies
- A forward-looking perspective on the future of finance
Readers will understand the intricacies of blockchain, including its underlying technology, smart contracts, and potential use cases in the financial sector. It also helps readers to anticipate industry trends.
Readership
Professionals in the financial sector, general readers and tech enthusiasts.
Table of Contents
CONTENTS
PREFACE
LIST OF CONTRIBUTORS
CHAPTER 1 A SYSTEMATIC REVIEW ON RECENT TRENDS OF DIGITAL FINANCIAL INCLUSION
- Roohi Sille, Ishita Nanda, Akshita Kapoor, Samyukta Sahoo and Arnav Sharma
INTRODUCTION
- Adoption of Technology in Finance
- The Need to Include Technology in Finance
- The Extent to Which this Inclusion is Advantageous
- Expansion of Fintech
- Latest Contributing Events
- Entrepreneurial Growth
- Advancement with Blockchain and Artificial Intelligence
- How Does Blockchain Work?
- Threats in Digital Transactions
- Increase in Support of Cloud Services
- Expansion of Data Analytics and Big Data
- Accelerated Automation and IoT
- Security Challenges with Digitalization and Finance
- Unencrypted Information
CASE STUDY
- Solutions to Secure Digital Transactions
- Personal Protective Measures
- Payment Authentication Security Measures
- Technological Safety Measures
- Digital Payment Security
FUTURE SCOPE OF DIGITAL FINANCE
REFERENCES
CHAPTER 2 A BLOCKCHAIN SOLUTION FOR CROSS-BORDER PAYMENTS
- Don Charles
INTRODUCTION
FACTORS AFFECTING DE-RISKING
- Know Your Customer
- Customer Due Diligence (CDD)
- Customer and Transaction Screening
- Suspicious Activity Reporting
- DE-RISKING IN THE CARIBBEAN
- Appropriateness of the De-risking
LITERATURE REVIEW ON BLOCKCHAIN
- Functionality of Blockchain
- Nodes
- Tokens
- Structure
- Consensus Mechanism
- Rules
- Types of Blockchains
- Public Blockchain
- Private Blockchain
- Bitcoin: The First Blockchain
THE CURRENT CROSS-BORDER PAYMENT SYSTEM
RECOMMENDATIONS FOR THE ESTABLISHMENT OF A BLOCKCHAIN AND CROSS-BORDER PAYMENTS SYSTEM
- Payment Instruments
- Processing and Clearing
- Settlement
- Payment as a Service
RECOMMENDATIONS FOR FINANCIAL INSTITUTIONS
- Proprietary (In-house) Blockchain for Payments
- Paas Blockchain for Payments
- Challenges to Implementation
CONCLUSION
COST EFFICIENCY
- Borderless Payments
- Secure
- Independence from Monetary Policy Intervention
- Bank-less Currency
- Unbanked and Underbanked user Benefits
- Increased Payment Transparency
REFERENCES
CHAPTER 3 CRYPTOCURRENCIES AS FINANCIAL ASSETS A CROSS-SECTION
- Rajesh Kumar Kashyap and Chanakya Lahiri
INTRODUCTION
CLOUD SECURITY CHALLENGES AND PRIVACY MEASUREMENTS
- Why Cryptic Nature Should be Encouraged
CONFIDENTIALITY AND INTEGRITY IN CLOUD
TURNING CURRENCY INTO CRYPTOCURRENCY
- Current Financial System and its Difficulties
- What Cryptocurrency Does
IMPACT OF CRYPTO CURRENCY ON GLOBAL ECONOMY AND STOCK MARKET
RISKS AT A FINANCIAL ASSET STAGE
ALGORITHMS AND QUANTUM CRYPTOGRAPHY
PROOFS FOR TAMPER RESISTANCE
FOCUSING ON FINANCIAL ASSETS
CONCLUDING REMARKS
REFERENCES
CHAPTER 4 BLOCKCHAIN TECHNOLOGY AND FUTURE OF TRIPLE ENTRY ACCOUNTING (TEA) SYSTEM
- Sanket L. Charkha and Siddhant A. Kale
INTRODUCTION
- Efforts to Increase Transparency
- Blockchain and Triple-Entry Accounting
- Streamlined Record-Keeping
- Enhanced Transparency and Trust
DEVELOPMENT OF THE TEA ACCOUNTING SYSTEM
FROM DOUBLE-ENTRY TO TRIPLE-ENTRY ACCOUNTING
- Yuji Ijir's Triple-entry Book-keeping
DESCRIBING BLOCKCHAIN
DISCUSSION AND CONCLUSION
Author
- Rishikaysh Kaakandikar
- Keshav Kaushik
- Priya Tiwari
- Surekha Suresh Ningule
