Uses of Blockchain Technology in Financial Services Sector: Automated Compliance

Student: Khyurmeeva Elzyata

Supervisor: Tatiana Yakushkina

Educational Programme: Business Informatics (Bachelor)

Year of Graduation: 2017

Blockchain technology, also referred to as a Distributed Ledger Technology (DLT), today is one of the most advanced technologies, which is rapidly gaining popularity in a variety of fields. Technological capabilities of distributed ledger are already have been used to solve specific business problems. In the financial services sphere, this technology is able to develop a significant impact and change the further development of the financial infrastructure. The potential of blockchain technology includes its ability to create a distributed ledeger of financial transactions, members of which have an identical copy that can be accessed and viewed in real time. This innovation will significantly reduce the cost for conducting an external audit. This study is devoted to determination of the limits of applicability of blockchain technology for automating audit and and analysis of the possibilities of using it.

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