Blockchain and Its Use Cases in Banking, Accounting and Finance

Blockchain, an ingenious technology has become cause of change in business models across the globe. This technology is creating an appeal in several industries across India. With adoption of this technology in various verticals, we find out multiple use cases in this paper. This technology, Blockchain, is a decentralized ledger technology with key features of transparency, security, and permanence. This paper sheds light on how finance, banking and accountancy can benefit with blockchain as it enables reduction in human error, risk and fraudulent activity. Also, aspects surrounding security of blockchain are discussed.