The Role of Blockchain Technology In the Digital Transformation of Traditional Banking Industry

Abstract

As a new application technology in recent years, blockchain technology itself has high security and sharing, and it will develop to the direction of intelligence. For the traditional banking sector, non-performing loans and credit check is one of the main concerns. The application of blockchain technology to traditional banking can effectively reduce the occurrence of non-performing loans. At the same time, the application of blockchain technology in credit investigation business can also greatly improve the efficiency and comprehensiveness of credit investigation audit, which is of great significance to ensure low-risk operation of banks.