---
title: "Is the Blockchain Different from Banking Ledgers?"  
description: "Is the Blockchain Different from Banking Ledgers?"  
author: "Sandra Emily"  
published: 2022-05-19  
canonical: https://answers.mindstick.com/qa/97486/is-the-blockchain-different-from-banking-ledgers  
category: "troubleshooting"  
tags: ["troubleshooting", "blockchain"]  
reading_time: 1 minute  

---

# Is the Blockchain Different from Banking Ledgers?

Is the [Blockchain](https://www.mindstick.com/articles/44073/blockchain-could-transform-the-world) Different from [Banking](https://www.mindstick.com/articles/44009/blockchain-revolution-in-banking) Ledgers?

## Answers

### Answer by Hitesh Vohra

- **Banking ledgers** are used to guarantee that transactions are completed properly. They do this by tracing and timestamping transactions. The way a banking ledger and a blockchain are governed is a big distinction. Although the blockchain is decentralised, banking ledgers are entirely centralised because they are governed by banks.
- When opposed to bank ledgers, the blockchain is entirely transparent and trustworthy. Banks are interested in using blockchain technology to automate many of their banking functions and create a secure environment. They are, however, more likely to employ federated or private blockchain to maintain control over their activities.

\

**Read More: [What are the types of consensus algorithms?](https://answers.mindstick.com/qa/97502/what-are-the-types-of-consensus-algorithms)**


---

Original Source: https://answers.mindstick.com/qa/97486/is-the-blockchain-different-from-banking-ledgers

Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.