Rising above with technological prosperity, blockchain has grown as a concept. It has grown to make the world understand how far it can go digitally. However, blockchain also inspires the idea of cryptocurrency which is one of the hot cakes too. But talking about the former, it has impacted the business ecosystem like the original game changer. Although, maintaining a digital ledger needs the use of cryptocurrency for transactions, implementations of far beyond are also getting ideated where a blockchain system can work independently on its own.

Blockchain as a Service or BaaS as a rising sector

It takes expertise to execute blockchain and integrate it with the existing infrastructure of the company. The startup revolution has given birth to many such experts who have the capability to integrate blockchain into an existing infrastructure and make the financial transactions seamless forever. Although, it is illegal to possess or transact in cryptocurrency in India, it hasn’t stopped native blockchain entrepreneurs from catering to businesses abroad for their blockchain requirements. It becomes cost effective for businesses abroad in the blockchain integration if they are getting it done from a developing nation like India.

More Cryptocurrencies to Hit the Stage

The popularity of blockchain models has given rise to a number of cryptocurrencies all over the world. Monero is one of the recent ones that can even be mined from a personal desktop with decent stacks. It has also hit the media that popular singer Akon has bought a 2000 acre land in Senegal which will be turned into a high tech city that will only allow cryptocurrency transactions with the currency named Acoin. The city will name Akon city. The implementation of crytocurrency also means the integration of blockchain as it becomes primary.

Blockchain as a Game Changer to the Banking & Finance Industry

What blockchain can do in maintaining a ledger of a specific organisation is known to all. Perhaps, now it is time that it is implemented on large scale in the banking and finance sectors. If audit firms all around the world start integrating blockchain into their client businesses, the whole concept of financial transactions can change forever. Obviously, it will need cryptocurrencies to run and bitcoin being the most popular one will lead the way. It will not only optimise time for all the financial transactions, but also make them smooth and seamless.