Blockchain technology is hailed as the next big revolution in the tech industry. Its adoption has been fast and widespread so far, with applications ranging from cryptocurrencies to real estate to lending and much more.
But blockchain also has the potential to create and enhance social impact, in many different forms. Transparency, for example, is a huge virtue of this technology and the Telangana government has used this technology as its base to secure and update land records. The state also has aspirations to make Hyderabad, its capital, as the “blockchain capital of the world”.
So what exactly is all this noise around blockchain for? How can it help redefine industries? And moreover, how can it be applied for social good? We spoke to Raj Kapoor, founder of the India Blockchain Alliance and a senior advisor to project SEA, to find out.