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September 2017
—-By Kamaljeet Rastogi
Is Blockchain a
bane or a boon for Banks
If you are reading here – you already know enough about Blockchain.
So let me directly get to the point - From a concept point of view –
Blockchain technology can make the role of a Bank redundant. Banks
provide a trusted 3rd party institution to enable transactions between
two parties – t he saver and the borrower, the remitter and the
beneficiary, the exporter and the importer. If two strangers can do these
transactions using the trust provided by Blockchain, then there is no
need for a Bank and this is what has been a bane to the Bankers
worldwide. Infact Blockchain goes beyond Uberisation of Banking –
as there is no need for any centralized platform or 3rd party aggregator.
The chain is the platform.
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