Core-Banking

What are zero knowledge proofs? A zero-knowledge proof is a way for one person (the prover) to prove to another person (the verifier) that they know something without revealing any additional information about it. It’s like a magic trick, but with math instead of rabbits and top hats. Zero knowledge proofs (ZKP) are a type of cryptographic protocol that allows one party (the prover) to demonstrate to another party (the verifier) that a certain statement is true, without revealing any additional information beyond the truth of that statement. In other words, a zero knowledge proof allows one party to prove to another party that they know a certain secret, without revealing the secret itself. ...

Blockchain Technology and its influence in the Banking Industry Blockchain technology is rapidly transforming various banking industries. The decentralized and secure nature of blockchain is a game-changer in the financial industry which offering numerous benefits over traditional databases. In this article I will discuss how blockchain is changing the banking sector and why it’s becoming an essential technology for banks. Increased Transparency and Security One of the most significant advantages of blockchain technology is its transparency. The decentralized nature of blockchain ensures that every transaction is recorded on a public ledger that can be verified and checked by anyone on the network (who has access to the network). This transparency eliminates the risk of fraud and ensures that all transactions are accurate and secure and in traditional banking systems, there is always a risk of hacking or theft. With integration blockchain can be the risk is significantly reduced making it an ideal technology for banks. ...

Intro Banking software has become an essential tool for financial institutions to manage their operations, from customer transactions to back-office functions. With the constant evolution of technology, banks are now able to offer new and improved services to their customers. In this article, we’ll be discussing the implementation of new bank offerings and some common terms used in the banking software industry. Banking Software Terms Core Banking System: A centralized software system that manages a bank’s day-to-day operations, including account management, loan processing, and transactions. ...