As blockchain emerges from the shadows of Bitcoin, experts are heralding it as the ‘mother technology’, which has catalyzed the massive global FinTech revolution, however, there still persists a need for the industry to understand the myriad of factors that are necessary to make this technology feasible.
SOURABH TIWARI, CIO, Overseas Infrastructure Alliance
“To make Blockchain viable for the Enterprise, we will need a more peer to peer consensus, where a network of computers, based on complex algorithms, will speak to each other instead of a central bank repository”
The foundation of any financial institution or technology is based on the modicum of trust. While blockchain is being tried and tested by numerous banks globally, albeit in a variety of sandbox models and initial pilots, it is vital for the technology to have multiple players and early adopters on board, who are mutually trustworthy, to make this invention a success.
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