The blockchain technology uses cryptography and distributed databases to record transactions. The data are stored in an immutable way in an ever-growing system that contains interlinked ledgers, which are all synced with the same information. Although blockchain technology is still naive, it’s a cryptographic decentralized, secure system that has created positive impacts in many sectors, especially in the core banking and financial industry. Few banks have already implemented blockchain technology for strengthening their business and maximizing business profits and have a surplus international currency. Now let us discuss the key impact areas in the banking sector . Key impacts of blockchain in the banking sector. Complete transparency and mitigation of data redundancy Blockchain technology's uniqueness lies in its decentralized series of independent and interlink nodes module, which records the data in the ledger format and makes sure that there is no...