Category: FinTech

Blockchain and Fintech

noohshamsie

Various reports and the number of Blockchain use cases implemented suggest that the financial sector stands to gain the most from Blockchain-based service implementations. Some of the many use cases discussed below are to highlight only the most obvious use cases. Trade Finance In trade finance Stock and Share sale and purchase transactions that can sometimes take two to three day are made through brokers and exchanges for clearing and settlement it requires tedious processing through paper and electronic media. Each party including middlemen maintain their record of transactions or…

How to identify do you really need Blockchain for your business problem?

sdgadmin

Blockhain in the new buzz word in the industry. Now a days, everyone seems so fascinating to apply blockchain in their current business model or want to resolve existing problems using the blockchain technology. But blockchain can not be used in every case. You have to carefully analyse user business problem before utilising this new promising technology. In this article i will try to cover the basic requirements for the need of Blockchain based solution for a business problem. So lets begin: Step 1: Define your business problem and try…

What is SegWit?

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SegWit (short for Segregated Witness) is a protocol upgrade that changes the way data is stored. It was activated on litecoin on May 10, 2017, and on bitcoin on 23 August, 2017. Developer Pieter Wiulle first presented the idea at the Scaling Bitcoin conference in December 2015. Many hailed it as a long-awaited solution to bitcoin’s scaling problem. The maximum block size in the main protocol is 1MB, which restricts the number of transactions bitcoin can process to approximately 7 per second. This was going to limit bitcoin’s potential growth,…

Telangana govt, ChitMonks partner to launch blockchain-based chitfund system ‘T-Chits’

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Telangana govt, ChitMonks partner to launch blockchain-based chitfund system ‘T-Chits’ The government of Telangana, through its Registration & Stamps Department has collaborated with T-Hub startup ChitMonks to launch T-Chits, a blockchain-based chit fund administration As the chit fund business in India got corporatized, regulations to administer the business and protect the interest of all subscribers involved also evolved. The Central act of Chit funds, which came into effect from 1982 has since been the guiding book for all the regulators across India. At the state level, governments are responsible to…

Now, blockchain tech powers chit funds

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Stamps and Registration Department partners with ChitMonks In a first, the traditional chit fund administration is powered by the secure blockchain technology as the Stamps and Registration Department partners with ChitMonks, a start-up, to launch T-Chits. At a time when all record-keeping is manual, the initiative is aimed at bringing trust among subscribers and ensure that there is no manipulation of numbers. ChitMonks on Thursday said T-Chits intends to bring assistant registrars of chits and registered chit funds on the blockchain network. This would bring about ease in business. “The…

Top 10 Enterprise Blockchain Implementation Challenges

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As blockchain transitions from hype to reality, various issues are coming to light. Further, it is also becoming clear that the technology requires more detail in terms of enabling better understanding, hence better implementation. Notably, blockchain implementation challenges simply imply that there is more to work on before the technology can fulfil its promise. Interestingly, getting to the bottom of the challenges requires a good understanding of the technology and what it entails. Further, blockchain is quite undefined as it is today. As such, one might not be clear on…

Unlocking Economic Advantage with Blockchain – A guide for asset managers

noohshamsie

Credits: Published by J.P. Morgan There is a growing realization that distributed ledger technology — popularly known as blockchain — will bring a radical shift in the way we think about financial assets and the way the financial industry will operate in the future. The blockchain journey is likely to be long and the outcome is uncertain, but a consensus is forming that it is the real deal. Disregarding it is a risk. In this joint report with management consultant Oliver Wyman, we argue that asset managers need to get…