How blockchain impacts the banking sector?

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Blockchain is bringing revolutionary changes to the banking sector by increasing security, reducing costs, and speeding up transactions. The technology enhances the transparency of operations and minimizes fraud risks. JP Morgan uses blockchain to simplify international payments through its Liink platform. Ripple provides solutions for fast and cheap transaction processing, while companies like IBM and ConsenSys are developing tools to implement decentralized financial services (DeFi). The use of blockchain technology is shaping the future of finance, allowing banks to offer faster and more accessible services.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.