The Positive and Negative of Blockchain Technology Explained

The Positive and Negative of Blockchain Technology Explained

Were you aware an estimated INR 10,000 crore of bitcoin money was exchanged in India in December 2017 if the cryptocurrency shrunk to $20,000 prior to decreasing to $6,000 a month after?

It's possible this volatility which has resulted in cryptocurrencies such as bitcoins dropping favor with India's Reserve Bank of India (RBI). In a brand new development, RBI has vowed to bargain with or offer some support to the things working together with any cryptocurrency for example Bitcoin. RBI has contributed three weeks to banks to repay their companies with customers or entities coping with cryptocurrency from India.

"When they (cryptocurrencies) develop beyond a crucial size they could undermine fiscal stability," said BP Kanungo, Deputy Governor in RBI.

It was shown by the Deputy Governor who RBI has plans to unveil its electronic money. An inter-departmental team was constituted to evaluate the feasibility of presenting this type of money in India along with also a report to the effect is going to likely be filed from June 2018.

Blockchain: The Hero and the Villain

it's quite ironic that cryptocurrencies such as bitcoins driven by blockchain technologies have come under a great deal of flak from the Central Bank of the nation. While Indians thinking about investment in cryptocurrency is going to need to hit brakes to the thought, for the time being, it does not signify that blockchain doesn't have any potential in the nation.

In reality, there's a strong belief in favor of blockchain along with the modifications it may result in across varied industry verticals.

What's Blockchain?

Blockchain is a distributed ledger of all cryptocurrencies such as bitcoins. The blockchain technology utilizes secure encryption to carry and monitor the source of possession of each trade directly from issuance to this of their present owner. You will find several applications and use instances of blockchain engineering in India and among the very important perhaps is that the usage of blockchain technologies in discovering banking frauds.

Blockchain Certifications at India

Nowadays, blockchain classrooms are now complete in India as more IT Professionals are discovering it a more rewarding career choice to pursue. From which makes it like a Blockchain Engineer with good programming and solid analytic abilities to getting a Blockchain Developer providing tech advisory solutions, there's not any dearth of all blockchain job opportunities for you.


Even though the jury remains out on if cryptocurrencies such as bitcoins really are a bubble or not, the most reassuring part is that the inherent technology powering it i.e. blockchain includes a more stable potential due to its capability to change societies and form our future. The coming years will probably be about experimentation with this emerging technologies and job seekers that conform in time with the addition of blockchain technologies to their own repertoire is going to have a promising career forward.