In this short paper we introduce the basics of blockchain technology including its many advantages and why and how they possess a number of attractive attributes for the banking and financial-services industry to simplify business processes while maintaining safe, trustworthy records of business agreement and transactions. In particular, some typical examples of applying blockchain in Financial Technology (FinTech) are discussed, including such as applying Bitcoin to drive various new business services, and implementing smart contracts based on blockchain technology to oversee the execution of legal transactions in real time. In addition, a pioneer effort of building up a distributed-ledger consortium model is addressed in the near future work.
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