Disruptive Blockchain To Attract Indian IT Firms

Indian IT companies are now trying to find ways to execute a blockchain application that can help their clients in financial industry gain profit.

This is such a disruptive technology that can change the whole concept of finance. We are not yet aware of its complete potential and the impact it can have on financial sectors.

IT companies in India are now following the fashion and shifting their interest to not just bitcoin but blockchain technology too. Companies have started discovering various ways to implement the technology for daily use.

Bank transfer and settlement payments

As we know, bank transfers usually take 2-3 days and sometimes a week in larger international transfers, whereas blockchain verification mechanism which is secured by multisignature technology takes no more than 10 minutes. It also guarantees the most secure transaction.

Many use cases of blockchain technology are being discovered and also embraced by reputed financial institutions as well as big corporations.  

Companies are trying to create applications using blockchain to provide solutions throughout multiple sectors. For example, developing a smart app on top of blockchain to manage and store patient data can be useful for healthcare industry eliminating the use of central authority to handle patient data.

Even Samsung has collaborated with IBM to use the bitcoin technology for their upcoming apps.

What we are seeing is just a trailer of the technology, the main revolution is yet to come that will take the whole world by storm.