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The Block Chain Technology – A Catalyst of the Fintech Revolution

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  • Narciz Balasoiu

    (Academy of Economic Studies – Faculty of International Business, Bucharest, Romania)

Abstract

The block chain is seen as a new generation of the Internet, even called by some experts the New Internet. It can also be considered as an Internet of Transactions. These definitions tend to associate the block chain with the concept of the Internet of the People who use it daily and which are in turn extended to the Internet of Things (IoT) or to Internet of Value. This type of technology has multiple uses in financial and banking sector, but one of the most notorious applications associated with block chain remain the so-called cryptocurrencies. This field has grown rapidly in recent years, and the key to success and growing popularity are the seven principles: Decentralization, transparency, and security through security, stability and constancy over time, consensus, and responsibility.

Suggested Citation

  • Narciz Balasoiu, 2021. "The Block Chain Technology – A Catalyst of the Fintech Revolution," RAIS Conference Proceedings 2021 0060, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:lpaper:0060
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    References listed on IDEAS

    as
    1. Ye Guo & Chen Liang, 2016. "Blockchain application and outlook in the banking industry," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-12, December.
    2. Frank Yiannas, 2018. "A New Era of Food Transparency Powered by Blockchain," Innovations: Technology, Governance, Globalization, MIT Press, vol. 12(1-2), pages 46-56, Summer-Fa.
    3. Valentina Gatteschi & Fabrizio Lamberti & Claudio Demartini & Chiara Pranteda & Víctor Santamaría, 2018. "Blockchain and Smart Contracts for Insurance: Is the Technology Mature Enough?," Future Internet, MDPI, vol. 10(2), pages 1-16, February.
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    More about this item

    Keywords

    Block chain; finance; cryptocurrencies; bitcoin; Fintech;
    All these keywords.

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