Blockchain technology which has some unique advantages like security, workflow simplification, cost reduction and control over how data is leveraged over the extended enterprise. It reduces costs by eliminating the need for a trusted third party service provider. It automates verification processes. Now government and some notable organizations are also showing interest to accept and adopt this technology to cut cost and to deliver top line advantage.
In India National Payments Corporations of India is also adopting blockchain technology to deliver its current and future service portfolio in more efficient way.
Founded in 2008, the NPCI is a not-for-profit organisation registered under section 8 of the Companies Act 2013. The organisation is owned by a consortium of major banks viz. State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank and HSBC. It is promoted by Reserve Bank of India, India's Central Bank.
The organization has already issued an Expression of Interest (EoI), calling for entities to bid to develop a blockchain solution for the payments space.
This shows that India is also enthusiastic about the blockchain technology. NITI aayog, the think tank of the Nation is now working on blockchain finding a solution to combat the country’s roaring counterfeit drugs trade.
Export-Import Bank of India is also allowed to study and research on blockchain technology in pertnarship with banks in the BRICS economy block.
Nasdaq, London Stock Exchange and the Swiss Stock Exchange are developing digital asset platforms and market infrastructure will be available by the end of 2019 to compete with existing established crypto exchanges. Global economic indicators are showing a possibility of a global slowdown later in 2019 and investors are likely to jump into alternative asset classes showing promise. In this case investing in cryptocurrency might have a bright future.
All over the world this technology is gaining momentum and this is going to be one major cause or market sentiment for the upcomming boom in the crypto market.
But always keep in mind not all the coins will make you rich , only some will. Maximum of the coins are illusive only.
So invest with caution and risk. Cryptocurrency will not make you rich today but it will make tomorrow.
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