“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.” – Leon Louw, Nobel Peace prize nominee
When can we expect blockchain into the mainstream?
Blockchain has made its mark by growing its community in a much accelerated manner in comparison to any other nascent technology. There is huge aggression in adopting this technology by financial institutions to better compete and stay relevant to their business. Governments are looking into this to fight corruption and counterfeits from the system. At Auxesis, we are working on some end-applications over Blockchain for various organizations, including for governments which are scheduled to go live by the end of year and being directly integrated to existing system and so technology will be used and be impacting millions of people. Given with the pace big organisations and government are adopting the technology, it’s not far that we will have this technology powering almost every financial and regulation app in some way or another.
How has demonetization impacted thinking about Bitcoin?
India has a huge economy, which was running over more than 90% in cash, so the demonetization move severely impacted the economy. But the same has led to flourishing digital payment segment like a revolution. Many digital payments startups, including some Bitcoin startups have increased their volume in multifold. In some recent advancement, a few governmental personnel have also commented over how we can solve the issues related to a traditional Fiat currency with a Blockchain powered cryptocurrency. The overall move of demonetisation has helped Bitcoin and related cryptocurrencies flourish while people are now thinking towards adopting an alternative currency.
What is the current state of blockchain innovation in India?
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