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Author: Admin | 2025-04-27
As a key standard for issuing crypto tokens. Ethereum, a decentralized blockchain platform, is advantageous for implementing complex business logic and smart contracts. Companies often issue tokens to raise capital through ICOs, with the ERC20 protocol being the most widely used standard. This protocol ensures comp atibility within the Ethereum ecosystem, making it a preferred choice for new crypto token development.... The first time in 2008, he talked about cryptocurrency in his study "Bitcoin: A peer-to-peer electronic cash system" [2]. After the 2008 stock market crash, Bitcoin emerged as a digital currency, which means a mechanism in which there are no barriers in terms of Banks and other financial institutions [3]. The first digital coin, i.e., Bitcoin using blockchain technology, offers several benefits in terms of security, lowcost transaction [4], and high returns [5]. ...Blockchain technology (BCT), a revolutionary innovation, is reshaping the global financial system. Despite being in its early stages, BCT has astounded the world by introducing a decentralized mechanism to replace traditional paper currency with digital assets. The literature on BCT within the financial industry, especially the banking sector, is experiencing significant growth. Numerous scholarly works have played a crucial role in advancing our current understanding of blockchain's role in banking. This document represents a comprehensive review of 96 research papers, aiming to offer an exhaustive assessment of related publications released online between 2017 to 2023. The article presents a succinct overview of the evolution of BCT, its impact, the challenges encountered in its implementation, and the constraints observed in its application within the banking sector. The research findings demonstrate that BCT has the potential to significantly enhance the banking sector by simplifying financial transactions, reducing costs, ensuring security, and enhancing transparency. BCT has emerged as a potent catalyst for the ongoing transformation of the banking industry. This study consolidates the insights of multiple authors into a single resource, facilitating a comprehensive understanding of the advantages and limitations of BCT within the banking sector. Additionally, it sheds light on the future research direction by examining the challenges the banking industry will likely confront as it embraces BCT.Blockchain
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