RBI Distributed Ledger Technology and Blockchain - A Future of Decentralized India

International Journal of Management, Technology, and Social Sciences (IJMTS), 5(1), 227-237. ISSN: 2581-6012. (2020).

10 Pages Posted: 22 Jun 2020

See all articles by Bhuvana Reddy

Bhuvana Reddy

Srinivas University

P. S. Aithal

Poornaprajna College

Date Written: May 23, 2020

Abstract

Despite various countries getting hands-on technology such as blockchain for banking, transaction, and multiple benefits, a developing country such as India must use these technologies because of the advantages it provides in order to keep pace. In the age of digital currencies and new emerging technologies, central banking is a fast-growing topic in the monetary economy. Cryptocurrencies, blockchain, and distributed Ledger technologies appear to be feasible rivals to Fiat Currency central bank. Blockchain technology's influence behind Cryptocurrencies. Cryptocurrencies have the ability to boost payments and operations by central banks and serve as a forum from which central banks could Perhaps launch their own digital currencies. RBI Indian central bank is no less important when it comes to technology that would pave the way for the new economy, enriched with technology-centric growth momentum, by increasing support from India's reserve bank and the Indian government for innovation and integrating technologies through regulatory sandboxes and various other systems. This article illustrates distributed ledger technology in the Indian context. The secondary data were obtained from various scholarly journals and websites. We have analysed distributed ledger technology, India’s move towards learning new technologies, different central banks distributed ledger project and examined blockchain technology in the Indian market using the SWOC framework as a research case study.

Keywords: FinTech, Distributed Ledger Technology, Reserve Bank of India, IDRBAT, Central Banks, SWOC Analysis

Suggested Citation

reddy, bhuvana and Aithal, P. S., RBI Distributed Ledger Technology and Blockchain - A Future of Decentralized India (May 23, 2020). International Journal of Management, Technology, and Social Sciences (IJMTS), 5(1), 227-237. ISSN: 2581-6012. (2020)., Available at SSRN: https://ssrn.com/abstract=3612009

Bhuvana Reddy

Srinivas University ( email )

Mangalore
India

P. S. Aithal (Contact Author)

Poornaprajna College ( email )

Poornaprajna Institute of Management
Udupi District
Karnataka
India
+919343348392 (Phone)

HOME PAGE: http://www.pim.ac.in

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