Adoption of Blockchain in Banking Industry: Challenges and Perspectives

The adoption of blockchain technology in the banking industry presents significant opportunities and challenges. This article explores the current landscape of blockchain adoption in banking, focusing on key challenges and perspectives. We delve into the intricacies of blockchain architecture and its relevance to banking operations, highlighting how distributed ledger technology can revolutionize traditional banking processes. Challenges such as scalability, interoperability, and regulatory compliance are examined in detail. By synthesizing insights from both industry practice and academic research, this article offers a comprehensive analysis of the challenges and opportunities that blockchain presents to the banking sector, providing valuable insights for industry practitioners, policymakers, and researchers alike.