Research Article
A Security Perspective of Blockchain Technology in the Financial Sector
@INPROCEEDINGS{10.4108/eai.18-11-2022.2327110, author={Xiaonan Yuan and Lin Xie}, title={A Security Perspective of Blockchain Technology in the Financial Sector}, proceedings={Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China}, publisher={EAI}, proceedings_a={ICEMME}, year={2023}, month={2}, keywords={blockchain peer-to-peer identity theft immutability}, doi={10.4108/eai.18-11-2022.2327110} }- Xiaonan Yuan
Lin Xie
Year: 2023
A Security Perspective of Blockchain Technology in the Financial Sector
ICEMME
EAI
DOI: 10.4108/eai.18-11-2022.2327110
Abstract
The paper provides a snapshot of blockchain security technology by examining its data structure, achieving basic security requirements and some primary challenges. Blockchain qualifies as a disruptive technology. Although it started in 2008, it is now one of the popular technologies, which continues to transverse different industries. The peer-to-peer approach to sharing information, sophisticated data structure and features such as immutability, can offer solutions to identity theft, among other online-based frauds in the financial sector. Although it is a promising model, issues such as privacy concerns, regulatory uncertainty, slow adoption and lack of trust among stakeholders, will likely slow down its adoption in the financial sector.