The document discusses blockchain technology in banking. It defines blockchain as a decentralized, distributed digital ledger that sits on the internet and cannot be tampered with. Blockchain allows for direct communication between all participants, compliance with regulations, financial inclusion, reduced fraud, and smart contracts. The document provides statistics on the cost savings for banks of 30% and $12 billion annually from blockchain, as well as the growth of the blockchain market to $20 billion by 2024.