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Blockchain: A revolutionary change or not?

Blockchain today may be compared to what the Internet was in the early 1990s. While we have witnessed how the ‘Internet of Information’ has changed our society over the past two decades, we are now entering a phase where Blockchain may do the same by ushering in a new paradigm comprising ‘Internet of Trust’ and ‘Internet of Value’.

The current whitepaper in collaboration with Deloitte tries to cover the history of Blockchain, current trends and potential challenges to large scale adoption.

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Key Findings

01

  • Key benefits of BlockChain technology include - Real time, No third party or Intermediary, Shared and Distributed Ledger, Irreversible, and Censorship resistant.
02

  • Trade Settlement, Trade Finance, Underwriting, Digital Identity, and Claims processing key use cases of Blockchain in Financial Services industry.
03

  • Other use cases of Blockchain include – Supply chain traceability, Customer Data Management, Identity as a Service, Fraud Management, etc.
04

  • Lack of clarity on transparency, data sovereignty, and coordination key challenges to potential adoption.

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