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Abstract

Blockchain technology has revolutionized the way information is stored, shared, and managed in various industries, including banking. This review explores the impact of blockchain-driven communication on enhancing transparency and trust in banking through the use of distributed ledger technology (DLT). Blockchain technology, as a decentralized and immutable ledger, offers a secure and transparent way to record transactions and exchange information. In banking, blockchain-driven communication has the potential to streamline processes, reduce costs, and enhance security. By leveraging DLT, banks can create a secure and transparent communication network that allows for real-time transactions and data sharing. One of the key benefits of blockchain-driven communication in banking is enhanced transparency. The use of DLT ensures that all transactions are recorded and verified in a transparent and secure manner, reducing the risk of fraud and error. This transparency also helps to build trust among customers and stakeholders, as they can verify the authenticity of transactions and information. Another important aspect of blockchain-driven communication in banking is the enhancement of trust. By using DLT, banks can create a tamper-proof and auditable record of transactions, which helps to establish trust between parties. This is particularly important in an industry where trust is paramount, as it allows for more efficient and secure transactions. In conclusion, blockchain-driven communication in banking has the potential to revolutionize the way information is shared and managed. By leveraging DLT, banks can enhance transparency and trust, streamline processes, and reduce costs. As blockchain technology continues to evolve, its impact on banking communication is likely to grow, leading to a more efficient, secure, and transparent banking system.
Keywords: Blockchain- Driven, Communication, Banking, Transparency, Ledger Technology.