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Understanding Modern Banking Ledgers Through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money

  • Gareth W. PetersEmail author
  • Efstathios Panayi
Chapter
Part of the New Economic Windows book series (NEW)

Abstract

In this chapter we provide an overview of the concept of blockchain technology and its potential to disrupt the world of banking through facilitating global money remittance, smart contracts, automated banking ledgers and digital assets. In this regard, we first provide a brief overview of the core aspects of this technology, as well as the second-generation contract-based developments. From there we discuss key issues that must be considered in developing such ledger based technologies in a banking context.

Keywords

Blockchain Smart contracts Banking ledgers Data integrity Data security Exchange clearing 

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Copyright information

© Springer International Publishing Switzerland 2016

Authors and Affiliations

  1. 1.Department of Statistical ScienceUniversity College LondonLondonUK
  2. 2.Department of Statistical ScienceOxford Mann Institute, Oxford UniversityOxfordUK
  3. 3.Systemic Risk CenterLondon School of EconomicsLondonUK
  4. 4.Department of Computer ScienceUCLLondonUK

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