Blockchain technology makes revolutionary changes in different application fields owing to its decentralized and immutable ledger. Because of Blockchain technology, banking industry services can be completely transformed in recent years. The blockchain inaugurates its revolutionary change in banking through the fundamental bitcoin model. After that, numerous virtual currencies have been innovated, but they are not appropriate compared to bitcoin. Among them, the Libra virtual currency receives high attention in the payment and transaction services of the banking industry.
  The advantages of utilizing blockchain technology in the banking industry are as follows.
   •  Expedite the International Transfers
   •  Minimizing the costs of both banks and customers
   •  Eliminate the third-party interaction and commission costs
   •  Enhancing the security and neglecting fraud activity in the transaction
   •  Make the lender and borrower activity ease
   •  Minimize the human errors
  The disadvantages of using blockchain in the banking industry are as follows.
   •  Irreversible Transactions
   •  High Energy Consumption
   •  Vulnerable to hacking activities with the public database