Sahil Kohli from Bitindia participates in NASSCOM roundtable on Blockchain
Nov 27, 2017 Posted / 5125 Views
The National Association of Software and Services Companies (NASSCOM) organized a virtual roundtable on the application, emerging trends and future of Blockchain technology in India. Sahil Kohli, the CEO of Bitindia was invited to participate and share his believed abstraction regarding Blockchain. He deliberated on how Blockchain technology is enough of a differentiator in the wallet space in comparison to the other established players.
The post demonetization era in India compelled the citizens to switch to the digital wallets. As a result, it became one of the fastest growing economies in the space of using digital form of transactions. India at present can be labeled as one of the most exciting markets with the probability of setting up the case study for an affordable financial services and platforms using Blockchain.
The young CEO in the roundtable explained how Blockchain generates consensual confidence and trust, which is a great paucity for most of the traditional transaction methods. Moreover, he expounded on the fact that it is a decentralized platform which is immutable, transparent and dynamic. Sahil mentioned about Bitcoin which has recently witnessed humongous growth. He said that even bitcoin which now bouncing the borders is empowered by the Blockchain technology, and people around the world are now accepting it as one of the most painless and accessible payment methods.
The CEO for Bitindia further enlightened that Blockchain is going to be one of the most imperative technologies in coming times seeing the flaws of centralized systems such as Banks. He told the NASSCOM that Banks will not simply state their vulnerabilities to the general public. But Blockchain can be especially beneficial if they implement private sharing among authorized banks where cooperation is easily achieved. Nonetheless, it also has the capability to disrupt the corporate models.
Lastly, he remarks that many identities and social network communities around the globe are implementing Blockchain technology, however, the adoption in India is slow and limited owing to the regulations by the government. If the enthusiast is to believe, blockchain technology employed in relation to investments in Bitcoin and similar cryptocurrencies is the unavoidable future of the country.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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