Documente Academic
Documente Profesional
Documente Cultură
A Presentation by
Sivanand Kolluri
The concept of blockchain
• Block chain is the digital information (the “block”) stored in a public
database (the “chain”).
• A digitally distributed ledger system that records an asset's movement
and ensures point-to-point tracking of information on transactions.
• It is a decentralized system, hence is transparent.
• Decentralization ensures the amount of control that a single authority
has in the process, hence reducing the possibility of scams.
• The use of tools like “smart contracts” help in automating manual
processes.
• Why is the banking sector interested in blockchain?
It also enables them to track documentation and authenticate ownership of assets
digitally, as an un-alterable ledger in real time.
• Is it safe?
Blockchain integrated with CBS using crytography secures the transaction.
Banking industry
Insurance industry
Trade financing
What happened at PNB?
‘There was a progression of unscrupulous practices at each level of LoU
making, which brought about a ₹12,000 crore Ponzi scam.’