Techno Corner

The blockchain is a technology where trust, dependability, transparency is embedded into the features of this technology itself which makes it popular. The emergence of this technology was in 2008 during the financial crises. The central banks that were a trusted parties and custodians of the financial system made some bad investments decisions and people lost trust in a centralized party. I think you agree with me, right? This gave rise to a demand for a technology which eliminates the need for a central party. Now, let us understand why it is dependable.  Transparent and non-corruptible Digital transactions can easily be hacked, corrupted, duplicated, edited, etc, as it is just a combination of zeros and ones. A trusted third-party involvement is necessary to stop this, isn’t it? But as discussed earlier, this is could be better, so what if we have many trusted parties instead of just one central third party. When a digital transaction takes place, an entry is made into...

Each time a new technology is being discovered and introduced, it finds itself in a lot of uproar and speculation. I think you agree with me, don’t you? On one hand, it opens up new avenues and on the other hand, it causes a few disruptions which changes the way the industries function. Similarly, blockchain technology is creating ripples as the most coveted and positive disruptive technology. In simple words, blockchain is a digital ledger that is being used to record transactions. This technology has benefits that would affect many industries in a positive way.  Let’s check out briefly, about few industries that are slated to be disrupted. The real estate or housing industry today is considered as a basic necessity and it is also a measure of the economic activity of a country. I am sure you, we all agree on that, don’t we? The real estate sector relies a lot on elaborate paperwork. The advantage with blockchain technology is that it can now store the essential data like lie...

After, all, big discussions, debates and conferences, Blockchain made its way into market about nine years ago. The technology then was synonymous to the Bitcoin, Right? As the time goes by, this significant concept has now propagated into all major industries. What started as the medium for facilitating bitcoin transactions is now highly regarded as a dependable and authentic procedure for transactions that are important. The credibility of the technology has increased many times. The use of blockchain technology enables not only seamless bitcoin transactions, but also demonstrated proven use in wide use to its commendable value. Let us briefly review, how two major industries – banking and the stock markets, which are on the path of getting revolutionized due to the sheer influence of Blockchain technology? Banking - Blockchain offers a much faster transaction when compared to the traditional mode of transaction which routes through a third party like payment gateways etc. Bloc...