Blockchain and Aadhaar: Unlocking Capital in India
Generally, people understand the blockchain (BC) technology to be the one driving the cryptocurrency which is widely used for various illegal activities, so they have a common misconception of blockchain being an equivalent of cryptocurrency. But, in reality though blockchain is the core of crypto currency it has got much better use cases than cryptocurrency and these use cases can in fact drive towards a positive impact on the society. Blaming the blockchain for use of crypto in illegal activities is like blaming the dyeing process used in printing of money for corruption. Before we discuss about the use cases of blockchain technology let us first understand what blockchain is about!
Blockchain at its core is an open book written in indelible ink. The Blockchain is a technology as well as or more importantly an economic disruption. It is a culmination of a range of general-purpose technologies to exchange information and transact digital assets in distributed networks for companies and governments to support information exchange and transactions that require authentication and trust.
Now that we have a basic understanding about blockchain let us discuss its use cases. It offers novel tools to any problem domain where there exists a need for a reliable record of transactions in a decentralized environment in which not all parties, whether humans or machines, can be fully trusted. One of the most promising yet most complex use case of BC is the physical asset management system on blockchain. To understand the problems with the existing model of physical asset management let us consider the use case of property transfer system in India.
LATEST NEWS ON AADHAAR
- Subsidy a boon to companies than ryots – The Hans India
- DGCA Puts in Place Norms For Rolling Out Digi Yatra; Check Details For This Paperless Travel – India.com News
- How to lock or unlock your Aadhaar – BusinessLine
- How to lock or unlock your Aadhaar – The Hindu BusinessLine
- Banks confused on biometric use post Aadhaar verdict-ex-RBI Guv – BGR India
- Get ready for paperless and hassle-free air travel, DGCA puts in place norms for Digi Yatra – Zee News
- Identity Devices Launches Biometric Privacy Platform to Safeguard Aadhaar User’s Privacy and Data – Express Computer
- LIT babus in love with defunct biometric attendance machine – The Tribune
UPCOMING DIRI EVENTS
ISB is pleased to announce the “call for proposals” for the DIRI Research Fellowship. The fellowship offers you an opportunity to study the impact of Aadhaar. Who is eligible to apply? Individuals based in: Academic and research institutions Research oriented NGO’s and think tanks Internet and print media houses What do you gain? Training and mentorship in research design andFind out more »