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@article{186420,
        author = {Ms. Ashika Shukla and Ms. Nidhi Borana},
        title = {The Impact of Blockchain Technology in Financial Services in Mumbai District},
        journal = {International Journal of Innovative Research in Technology},
        year = {},
        volume = {12},
        number = {no},
        pages = {19-22},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=186420},
        abstract = {Blockchain technology in financial services enables secure, transparent and decentralized transactions, reducing reliance on intermediaries. This increases efficiency, reduces fraud and facilitates faster cross-border payments. The study analyzes the most important features, benefits and challenges of the financial industry to determine the potential of blockchain changes. This puts a special emphasis on how blockchain creates cost savings and improves security while solving the problems involved. Furthermore, the paper emphasizes the necessity for collaboration among industry stakeholders, regulators, and technologists to maximize the technology's benefits and mitigate associated challenges. The research paper is based on secondary data and primary data which investigates the impact of blockchain technology on the financial services sector in the Mumbai District, drawing insights from a survey of 238 responses. As blockchain continues to develop, its growing impact on financial transactions promises to significantly transform the industry's dynamics by offering a comprehensive perspective on its role in the digital age.},
        keywords = {blockchain technology, financial services, decentralization, cost savings, digital conversion.},
        month = {},
        }