Investigating the use of Blockchain Technology in facilitating International Fund Transfer with respect to Banking Sector of Sultanate of Oman

Abstract

The significance in Block chain applications has been ever-increasing since its introduction in 2008 due its major characteristics focusing on privacy, inscrutability and information integrity without any third-party concern in handling of the transactions. Consequently initiating interesting research subjects, particularly from the outlook of technical challenges and limitations. Block-chain is broadly considered as a next-generation technology with a lot of prospective upsides in various domains beyond digital currencies The study investigates the use of block chain technology in facilitating international fund transfer in banking sector, with special reference to Sultanate of Oman. Also, the study makes an effort to find the demand for block chain implementation in banking industry of Oman and also look into the benefits and challenges involved with the application of block-chain applications in banking sector of Oman