Technical Insights on Blockchain's Role in Financial Systems

• URL: http://arxiv.org/abs/2412.12131v1
• Date: Fri, 06 Dec 2024 05:08:14 GMT
• Title: Technical Insights on Blockchain's Role in Financial Systems
• Authors: Ishan Patwardhan, Sunil Mane, Nidhi Patel,
• Abstract summary: This research provides a critical analysis regarding the way blockchain is being implemented in the financial industry. It highlights its vital role in promoting green finance, guaranteeing compliance with regulations, improving supply chain finance, boosting decentralized finance (DeFi), and strengthening the Internet of Things (IoT)
• Score: 0.0
• License:
• Abstract: This research provides a critical analysis regarding the way blockchain is being implemented in the financial industry, highlighting its vital role in promoting green finance, guaranteeing compliance with regulations, improving supply chain finance, boosting decentralized finance (DeFi), and strengthening the Internet of Things (IoT). It discusses how blockchain's inherent attributes could significantly boost transparency, operational efficiency, and security across these domains while also addressing the pressing challenges of scalability, system integration, and the evolving regulatory landscape.

Related papers

• Balancing Confidentiality and Transparency for Blockchain-based Process-Aware Information Systems [46.404531555921906]
  We propose an architecture for blockchain-based PAISs aimed at preserving both confidentiality and transparency. Smart contracts enact, enforce and store public interactions, while attribute-based encryption techniques are adopted to specify access grants to confidential information.
  arXiv  Detail & Related papers  (2024-12-07T20:18:36Z)
• SPOQchain: Platform for Secure, Scalable, and Privacy-Preserving Supply Chain Tracing and Counterfeit Protection [46.68279506084277]
  This work proposes SPOQchain, a novel blockchain-based platform that provides comprehensive traceability and originality verification. It provides an analysis of privacy and security aspects, demonstrating the need and qualification of SPOQchain for the future of supply chain tracing.
  arXiv  Detail & Related papers  (2024-08-30T07:15:43Z)
• Enhancing Data Integrity and Traceability in Industry Cyber Physical Systems (ICPS) through Blockchain Technology: A Comprehensive Approach [0.0]
  This study explores the potential of blockchain in enhancing data integrity and traceability within Industry Cyber-Physical Systems (ICPS) ICPS is pivotal in managing critical infrastructure like manufacturing, power grids, and transportation networks. This research unearths various blockchain applications in ICPS, including supply chain management, quality control, contract management, and data sharing.
  arXiv  Detail & Related papers  (2024-05-08T06:22:37Z)
• Enhancing Trust and Privacy in Distributed Networks: A Comprehensive Survey on Blockchain-based Federated Learning [51.13534069758711]
  Decentralized approaches like blockchain offer a compelling solution by implementing a consensus mechanism among multiple entities. Federated Learning (FL) enables participants to collaboratively train models while safeguarding data privacy. This paper investigates the synergy between blockchain's security features and FL's privacy-preserving model training capabilities.
  arXiv  Detail & Related papers  (2024-03-28T07:08:26Z)
• Graph Attention Network-based Block Propagation with Optimal AoI and Reputation in Web 3.0 [59.94605620983965]
  We design a Graph Attention Network (GAT)-based reliable block propagation optimization framework for blockchain-enabled Web 3.0. To achieve the reliability of block propagation, we introduce a reputation mechanism based on the subjective logic model. Considering that the GAT possesses the excellent ability to process graph-structured data, we utilize the GAT with reinforcement learning to obtain the optimal block propagation trajectory.
  arXiv  Detail & Related papers  (2024-03-20T01:58:38Z)
• Generative AI-enabled Blockchain Networks: Fundamentals, Applications, and Case Study [73.87110604150315]
  Generative Artificial Intelligence (GAI) has emerged as a promising solution to address challenges of blockchain technology. In this paper, we first introduce GAI techniques, outline their applications, and discuss existing solutions for integrating GAI into blockchains.
  arXiv  Detail & Related papers  (2024-01-28T10:46:17Z)
• Challenges of Blockchain adoption in financial services in China's Greater Bay Area [0.5524804393257919]
  The increasing use of technology in financial services has the potential to generate benefits for many stakeholders. In China's Greater Bay Area (Guangdong-Hong Kong-Macao), the increasing use of technology in financial services has the potential to generate benefits for many stakeholders. This paper provides insights into the current progress of applications in insurance, banking, payments, asset trading, loans, remittances, the Internet of Things (IoT) for the finance industry.
  arXiv  Detail & Related papers  (2023-12-25T00:58:11Z)
• A New Paradigm in Blockchain-based Financial Aid Distribution [0.7366405857677227]
  Technology has emerged as a game-changer in a variety of industries, providing robust solutions that can conventional procedures. The financial sector is making substantial progress toward implementing blockchain solutions for a variety of operations. The healthcare industry is simultaneously incorporating this technology into systems for managing medical records, tracing supply chains, and data management. Diverse industries, including real estate, energy, and government, are actively investigating the potential of blockchain to improve efficiency, security, and transparency.
  arXiv  Detail & Related papers  (2023-11-14T19:41:24Z)
• Exploration of Hyperledger Besu in Designing Private Blockchain-based Financial Distribution Systems [0.7366405857677227]
  This article focuses on the development of an innovative consortium blockchain based financial distribution application. It demonstrates the diverse applications of blockchain, ranging from remittances to lending and investments in finance to data administration in healthcare and supply chain tracking. The investigation sheds light on the combination of consortium blockchain controlled access and Hyprledger Besu comprehensive functionality.
  arXiv  Detail & Related papers  (2023-11-14T19:18:16Z)
• Aid Nexus : A Blockchain Based Financial Distribution System [0.7366405857677227]
  By leveraging decentralized ledger systems, blockchain offers enhanced security, transparency, and transaction verification without the need for intermediaries. The finance sector is exploring blockchain-based solutions for payments, remittances, lending, and investments. Healthcare adopts the technology for medical record keeping, supply chain tracking, and data management. Other sectors, including real estate, energy, and government, are also investigating blockchain-based solutions.
  arXiv  Detail & Related papers  (2023-11-14T18:35:02Z)
• Regulation conform DLT-operable payment adapter based on trustless - justified trust combined generalized state channels [77.34726150561087]
  Economy of Things (EoT) will be based on software agents running on peer-to-peer trustless networks. We give an overview of current solutions that differ in their fundamental values and technological possibilities. We propose to combine the strengths of the crypto based, decentralized trustless elements with established and well regulated means of payment.
  arXiv  Detail & Related papers  (2020-07-03T10:45:55Z)

This list is automatically generated from the titles and abstracts of the papers in this site.

This site does not guarantee the quality of this site (including all information) and is not responsible for any consequences.