To Study Adoption and Challenges of Blockchain Technology in the Financial Sector in India

Now a days people stared adapting to the new change in the technologies or updated technologies with the increased need in our day-to-day lives. Currently, adoption of blockchain technology is being globally felt as its presence and capabilities are said to change the way a person perceives the internet. Blockchain technology is becoming a part of financial institutions around the world, but what would be its adoption in India and how would such technology benefit the Indian economy, remains of uttermost curiosity. Almost each work process is going under the process of digitization and hence more generate to threat. In successfully securing data & information and to protect and secure it from further change technology named as “Block Chain� emerges in 2009. Although it is introduced in early 90s but rarely used back then. Block Chain is a specified series of block like structure in which every block stores some data and information. Every block in a block chain is linked to his earlier block cryptography using hashing. Each block has some very sensitive information which need not to be changed such as transaction data or land ownership information. The main purpose of Block Chain is to make sure that a data once stored in a block cannot be changed and if someone tries to change the data inside a block results in construction of a new block.