The industry is gradually moving towards the ‘Blockchain’ technology. Popularly known as the back-end technology for cryptocurrencies like Bitcoin, blockchain is a shared, immutable ledger for recording the history of financial transactions. In fact, the technology is on the verge of making an everlasting impact on the entire technology landscape, as its applications are emerging rapidly in diverse industrial realms. Needless to say, this includes all forms of commercial banking services. Apart from that, the technology also imprints its innovation in other areas such as supply chain management, retail and foreign exchange, e-commerce advertising, and identity management.