Today’s financial industry with Fintech has found significant growth rates. Banking as a main part of this industry cannot serve at this level. So the banking system needs to change their platform to compensate for backwardness. The only way is Blockchain technology.
Scientific predictions show that the future of the finance industry is in the blockchain. The banking systems around the world slow down the financial markets and need to develop their platform to the multi-asset banking system for support users need and sync with financial technology. On the other hand, the Fintech needs a banking system services.
The financial ecosystem is changing rapidly by many startups in Fintech. So Blockchain is shifting the banking paradigm. The European Payment Services has forces the banks to open up the payment infrastructure to P2P.
The blockchain is a decentralized, distributed and a public digital ledger that used in Fintech project. This technology makes fast and secure transactions with transparency with peer to peer network that helps any users to sell assets by tokens and many other features.
Some businesses like Miney Coin have succeeded with the banking system such as PayPal and Fintech system. Now many banks decide to start blockchain project or they have been investing in Fin-tech, startups, and ICOs. Blockchain-Based banking could act as a catalyst to fracture the monolithic and vertically integrated approach to core banking