• Chetan Jain

The Blockchain Technology - The Next BIG Thing...

Every now and then, a new technology emerges, and it always takes us to places we have never imagined. We have seen this with the Telephone, Computers, Smart phone and of course the Internet. And now another breakthrough is out here to boldly transform businesses across industries i.e. The Blockchain Technology.

What is a Blockchain ?

How Does the Blockchain Works?

What are the Types of BLOCKCHAIN ?

Remember, the Internet started with email. Now the Internet impacts every part of our lives, but the underlying technology was first used simply to share information between two computers. Just imagine if you could have foreseen how that technology would progress and been able to identify companies that would drive global change (many companies come to our mind). Many experts believe blockchain is the next generation of the Internet and hold vast potential for every business and society.

Many people assume blockchain is Bitcoin. However, blockchain is the underlying technology that enables Bitcoin and many other digital currencies. As we hear, blockchain has a lot of potential applications in areas like Supply chain, Trade , Finance, Insurance, etc.

In India too, the BFSI sector is leading the blockchain adoption. There are many blockchain solution implementations across major banks and insurance companies. Healthcare, retail and manufacturing are also catching up. A lot of our Government enterprises are already using blockchain including – Niti Aayog, Govt of Maharashtra, Govt of Telangana, Govt of Andhra Pradesh etc.

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