Unit:
Κατεύθυνση Οικονομικά, Διοικητικά και Πληροφοριακά Συστήματα ΕπιχειρήσεωνLibrary of the Faculty of Economics and of the Faculty of Business Administration
Supervisors info:
Λαζάρου Βασίλειος, Λέκτορας, Τμήμα Οικονομικών Επιστημών, ΕΚΠΑ
Original Title:
Blockchain στον χρηματοοικονομικό κλάδο
Translated title:
Blockchain in financial sector
Summary:
In 2008, the white paper, which was signed by the pseudonym Satoshi Nakamoto, set the starting point for studying blockchain technology. The first public blockchain platform was the Bitcoin. Blockchain technology is a subset of the distributed ledger technology. In particular, blockchain technology is referred to as a chain of transactions within a public network where all members of the network have at the same time the same information which is impossible to be modified. Each new transaction is added to the existing chain of transactions(blocks) after an algorithm has confirmed its accuracy.
Since 2008, the interest of financial institutions has increased and research is being carried out into how blockchain technology and distributed ledger technology can be exploited. The subject of the paper is to clarify the advantages and disadvantages of technology in the financial sector as well as the potential opportunities and weaknesses. Focus was placed on applications beyond cryptos. The state of the art as well as its future trends are also presented.
Following a study of individual technology applications, it is clear that the future of technology in the financial sector is gaining ground, especially applications related to private blockchains where it is controlled who can join the network seems to have much more potential, despite the fact that the original idea was the creation of a public blockchain network that anyone could participate. Public Blockchain seems to be on the scene but some limitations should first be addressed, particularly with regard to the legal framework and the number of users who can participate at the network.
Main subject category:
Technology - Computer science
Keywords:
Blockchain, Distributed Ledger, Financial sector
