THE EFFECT OF BLOCKCHAIN ON THE FINANCIAL SYSTEM

The most difficult task for the largest financial institutions in the world today is processing, recording, reporting to regulators and also harmonizing and auditing the ever-increasing volume of information on confidential transactions. The infrastructure with which we do this is very outdated. It is centralized, it is protected by the perimeter security principle and such protection regularly fails. This is a model of the fan structure, where huge amounts of funds are aimed at constant matching of the same data, which are kept in different places, at different times, in different parts of the globe, for different users, so that all are synchronized. But at the same time, data from all participants are never the same. In this article I will tell you how to solve this problem with IT innovation - blockchain.