APPLICATION OF THE BLOCKCHAIN TECHNOLOGY IN THE BANKING AREA
In the modern world of digital technologies, the financial function should be flexible, forward-looking and facilitate prompt decision-making. The face of the financial services industry has been experiencing radical changes led by technologies over the past few years and the world of finance is rapidly changing, becoming digital. This research provides an analysis of the use of blockchain technology for managing banks' business processes. In particular, the further hypothesis is being investigated: is it possible to reduce time of the banking processes execution by applying the blockchain technology and, if possible, on which amount?