Krishna V Iyer and VV Ravi KumarYear: 2018

Authors: Economic and Political Weekly
Journal: Economic and Political Weekly
Publication date: 2018
Publisher: Economic and Political Weekly
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Blockchain or Distributed Ledger Technology seeks to address core concerns around transparency and trust that inhibit online transactions. While originally invented as an underlying ledger for Bitcoin cryptocurrency, it has spawned usage across diverse industries (including governance, banking, finance, insurance, music, logistics, etc) and business situations (asset issuance, tracking, transfers, payments, remittance, settlement, etc). While potential applications for Blockchain can be revolutionary, its real world adoption will continue to be constrained till society, law, businesses and technology fully understand its disruptive implications and devise safety mechanisms via common consensus.