The Rising of Blockchain Technology and Its Adoption in India

The demonetization of India has become a major impetus for the country to switch to digitalization and become a cashless country. Although new and potentially disruptive innovations, such as Cryptocurrencies and the Blockchain, are in their development stages, they are able to convert paper money into digital currency, providing a decentralized and secure environment. Blockchain features such as distributed computing, privacy, authenticity, non-denial, data integrity, and data availability can help a country like India become a cash economy. Finally, people in India started comprehending the necessity of digital money and non-cash loom it offers. After the successful adoption of large-scale non-cash payments, India is currently fanatical to move toward blockchain adoption. Blockchain technology is budding as the prime innovations that will shape the potential of digital and online transactions in India.