The advances related frauds continue to be the major concern for banks, especially because of their size and far reaching implications to their financial soundness and integrity. A special variety of frauds, which are increasing in number and in terms of speed, are the cyber frauds. Yet another special type relates to trade or documentary credit related, special because of cross border implications. 7.
Tokenization, when combined with data vaults to securely store personal information, can be used to trade objects in a way that protects one's identity from being exploited for profit. While these technological developments are still in their infancy, they have potential applications beyond the crypto ecosystem that could lead to substantial productivity enhancements in other industries.