Is blockchain the future of finance in India?


Currently, the financial system depends on a number of centralized trusted intermediaries.

Until a decade ago, it was commonly assumed that these central hubs were extremely unlikely to fail. More importantly, it was supposed that they were too big to fail (TBTF), so that the government would step in and bail them out if they did fail. The Global Financial Crisis of 2007–2008 shattered these assumptions as many large banks in the most advanced economies of the world either failed or were very reluctantly bailed out.

Repeated instances of hacking of the computers of large financial institutions is another factor that has destroyed trust. When trust in the central hubs of finance is being increasingly questioned, decentralized systems like the blockchain that reduce the need for such trust become attractive.
The blockchain is a decentralized, replicated, tamper resistant (immutable), append-only ledger of transactions.

Benefits of the blockchain


  • A full audit trail is available to all participants. Moreover, the inbuilt cryptographic integrity checks ensure that this audit trail is verified by all of them. The result is a significantly lower need for trust in central hubs.
  • Second, the blockchain is partition resistant: if a few nodes fail or are disconnected from the network, the rest of the nodes can continue to function because they all have a copy of all the data.
Blockchain is still an evolving and therefore immature technology; it is hard to predict how successful it would be outside its only proven use domain of cryptocurrencies. History teaches us that radically new technologies take many decades to realize their full potential. Thus it is perfectly possible that blockchain would prove revolutionary in the years to come despite its patchy success so far.


Worth-exploring reads also from Vikalpa:



About the journal:

Vikalpa: The Journal for Decision Makers is the journal of the Indian Institute of Management Ahmedabad (www.iima.ac.in/web/iima). Launched in January 1976, this peer-reviewed journal is
published quarterly. The word Vikalpa, in Sanskrit, carries a rich repository of meanings: diversity,
alternatives, logic, and freedom of choice.

Connect with us here.

Comments

  1. Blockchain is a past day already. But an essay writing service https://justbuyessay.com/blog/oxford-style-formatting investement is an interesting idea.

    ReplyDelete
  2. Wow, this is fascinating reading. I am glad I found this and got to read it. Great job on this content. I liked it a lot. Thanks for the great and unique info. KETQUAMOINHAT

    ReplyDelete
  3. Blockchain is an open and distributed ledger,Top Online CFD Brokers 2019 which can record transactions between two parties in a verifiable and permanent way.

    ReplyDelete
  4. The more you know about some possible 2m7.ca solutions before you meet them the better off you'll be. In addition you should work only with firms that have impeccable reputations. There are many scam artists out there that make outlandish claims about how they can eliminate debt and raise your credit score.

    ReplyDelete
  5. Wow, cool post. I'd like to write like this too - taking time and real hard work to make a great article... but I put things off too much and never seem to get started. Thanks though. Search the PPSR

    ReplyDelete
  6. This comment has been removed by the author.

    ReplyDelete
  7. Thanks for sharing this information. Keep on updating us regularly.
    Bottle Brush
    Photinia Robusta

    ReplyDelete
  8. Thank you for taking the time and sharing this information with us. It was indeed very helpful and insightful while being straight forward and to the point.I would highly recommend website development company in Chennai | seo company in Chennai

    ReplyDelete
  9. Here at this site really the fastidious material collection so that everybody can enjoy a lot.

    Data Science Course

    ReplyDelete
  10. Your work is very good and I appreciate you and hopping for some more informative posts.

    Data Science Training

    ReplyDelete
  11. You should be a part of a contest for one of the highest quality sites on the net. I’m going to highly recommend this blog! The training and certification courses to get trained on microtek training. I got really cleared my doubts by reading your informative information.

    Well i also founded something interesting over here in microtek training solutions

    ReplyDelete
  12. Terrific post thoroughly enjoyed reading the blog and more over found to be the tremendous one. In fact, educating the participants with it's amazing content. Hope you share the similar content consecutively.

    artificial intelligence course in bhilai

    ReplyDelete
  13. Speaking honestly this blog is absolutely amazing in learning the subject that is building up the knowledge of every individual and enlarging to develop the skills which can be applied in to practical one. Finally, thanking the blogger to launch more further too.

    Data Science training in Bhilai

    ReplyDelete
  14. Stupendous blog huge applause to the blogger and hoping you to come up with such an extraordinary content in future. Surely, this post will inspire many aspirants who are very keen in gaining the knowledge. Expecting many more contents with lot more curiosity further.

    Digital Marketing Course in Bhilai

    ReplyDelete
  15. Amazing Article,Really useful information to all So, I hope you will share more information to be check and share here.thanks for sharing .
    website: Cycling tours package

    ReplyDelete
  16. I enjoyed over read your blog post. This was actually what i was looking for and i am glad to came here!
    Website: Imitation jewellery suppliers

    ReplyDelete
  17. it is really a great and helpful piece of info. I am glad that you shared this helpful information with us. Please keep us informed like this. Thank you for sharing.
    malaysia embassy singapore

    ReplyDelete
  18. Yeah could be! Nice article! Website: sovarup If you need any pc parts, computers, laptops , Visit our website.

    ReplyDelete
  19. Great post, you have pointed out some excellent points, I as well believe this is a very superb website. 사다리사이트

    ReplyDelete
  20. Impressive blog to be honest definitely this post will inspire many more upcoming aspirants. Eventually, this makes the participants to experience and innovate themselves through knowledge wise by visiting this kind of a blog. Once again excellent job keep inspiring with your cool stuff.

    Digital Marketing training

    ReplyDelete
  21. Stupendous blog huge applause to the blogger and hoping you to come up with such an extraordinary content in future. Surely, this post will inspire many aspirants who are very keen in gaining the knowledge. Expecting many more contents with lot more curiosity further.

    Data Science training

    ReplyDelete
  22. Truly mind blowing blog went amazed with the subject they have developed the content. These kind of posts really helpful to gain the knowledge of unknown things which surely triggers to motivate and learn the new innovative contents. Hope you deliver the similar successive contents forthcoming as well.

    Digital Marketing training in Raipur

    ReplyDelete
  23. Hello, this weekend is good for me, since this time i am reading this enormous informative article here at my home. где выгодно продать скины кс го

    ReplyDelete
  24. Great post, I think blog owners should larn a lot from this web blog its very user friendly.
    Visit here :- Seo Packages In Gwalior

    ReplyDelete
  25. it is really a great and helpful piece of info. I am glad that you shared this helpful information with us. Please keep us informed like this. Thank you for sharing.
    Website: Bumper lottery

    ReplyDelete
  26. I am sure this paragraph has touched all the internet visitors, its really really fastidious piece of writing on building up new weblog.
    online electronics store in india

    ReplyDelete
  27. I always like to read a quality content having accurate information regarding the subject and the same thing I found in this post.
    Website Development Company |

    ReplyDelete
  28. Great information, i was searching of this kind of information, thank you very much for sharing with us.

    Craigslist Posting Service for Car Dealers |

    ReplyDelete
  29. This is really amazing website that I have been found on google regarding website Blog Commenting sites. and I would like to thank admin who also given us to post the link on his side.

    Lubbock moving company |

    ReplyDelete
  30. This was something I was looking for, really helpful, and great work is done. Thank you so much for sharing such valuable information.

    Car Auction Software |

    ReplyDelete
  31. It’s really a cool and helpful piece of information. I am glad that you shared useful information with us. Please keep us up to date like this. Thanks for sharing.

    Best CRM for Small Businesses |

    ReplyDelete
  32. I am really like it very much for the interesting info in this blog that to this website is providing the wonderful info in this blog that to utilize the great technology in this blog.

    Web Development Company in Gwalior |

    ReplyDelete
  33. Welcome to Footballilse. Are you a true football, movies and music fan and looking to buy authentic souvenirs and gifts? Look no further than Football Ilse. We offer the best authentic products to any corner of the world. All our products are licensed and sourced from authentic manufacturers around the globe. Football Ilse offers wide range of authentic licensed signed shirts, keyrings, badges, scarves, soccerstarz, signed shirts, movies, music and football accessories to the football fans around the globe. Shop Now!

    ReplyDelete
  34. Great article! This is the type of information that are meant to
    be shared across the internet. Thank you for sharing such a useful post. Very Interesting Post! I regularly follow this kind of Blog.
    scottishkiltcollection

    ReplyDelete
  35. This is a very nice one and gives in-depth information. I am really happy with the quality and presentation of the article. I’d really like to appreciate the efforts you get with writing this post. Thanks for sharing.
    CEH course in Pune

    ReplyDelete

Post a Comment