Spice Money: Industry Monitoring 13 June 2019
- Priyanka Kanodia
- Jul 8, 2019
- 2 min read
Spice Money
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What is Blockchain and why will it change the world?
Publication- The Times of India
Edition- Online
Date- 13 June, 2019
Your life is bombarded by news reports, colleagues, and friends talking about how blockchain technology is changing the world. But while many talk about blockchain, very few truly understand what it is and why it will revolutionize practically every industry imaginable. Thankfully, by the end of this article, you will be one of the few who understands this traditional “tech buzz word.” I can throw technical terms at you to describe how blockchain functions, including Markle trees, distributed ledgers, and cryptographic hashes. However, for simplicity’s sake, I will use a simple analogy to help individuals who are not well-versed in computer science understand blockchain and realize its significance.
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Deep Dive: How UPI Is Shaping Digital Payments, Accounts For Over 50 Percent Of India’s digital payments
Publication- Analytics India Mag
Edition- Online
Date- 13 June, 2019
India’s shift towards a cashless economy is at an inflection point and several factors such as smartphone penetration, digital payments solutions are helping the country build a robust digital ecosystem. Also, cashless transactions are embedded across the broader ecosystem especially in fintech, e-commerce. In addition to this, robust government policy and regulations have been supportive in removing bottlenecks and pushing for fast adoption.
In our weekly Deep Dive column, we take a look at the rise of UPI transactions in India and how it has become a crucial factor for an evolving cashless ecosystem in India. Pegged as a game-changer in the digital payments system and a crucial enabler for a cashless economy, the number of UPI transactions were ₹1.09 trillion in January this year, as per a report.
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