Nasscom, BlockSmiths & Quatrro collaborate to form Blockchain SIG

1. Blockchain for Fintech: From economising cross-border payments and remittances to facilitating the development of seamless collaborations between various financial institutions such as banks, insurance companies, and financial regulators, Blockchain is a game-changer for fintech industry.

2. Blockchain for the Internet of Things (IoT): Since IoT’s functionality is dependent on precise coordination between devices, IoT needs a system which can ensure this while maintaining the security of data exchange. Blockchain also provides the required governance system for connected IoT devices involved in trade or commerce.

3. Smart Contracts and its Applications: A Smart Contract is a piece of code which executes itself when certain conditions are met. Organisations could utilize this feature to remove third-party intermediaries to oversee the fulfillment of business transactions and reduce their costs.

4. General Blockchain Applications: This area would deal with general applications of Blockchain that are not covered in the rest of the focus areas.

Source: Nasscom, BlockSmiths & Quatrro ink partnership to form Blockchain SIG – The Economic Times 

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