Kent Baker, Hugo Benedetti, Ehsan Nikbakht, Sean Stein Smith, and Andrew C. Spieler (2021), “Financial Applications of Blockchain”, The European Financial Review


Blockchain is a growing technology that started in the cryptocurrency sphere with bitcoin but expanded to many business fields and beyond. In contrast to a traditional database, blockchain extensively uses cryptography (i.e., writing security codes) and permanently maintains the data. Although many industries worldwide use blockchain for various purposes, we discuss financial applications in the financial services, real estate, and accounting and auditing sectors. Before examining these applications, let’s review some basics about blockchains