Human Transformation with Blockchain Ecosystem

Merchants’ Chamber of Commerce & Industry organised a Special E-Session on “Human Transformation with Blockchain Ecosystem”with Shri Prasanna Lohar, Chief Innovation Officer, DCB Bank on February 18, 2022 at 5 p.m. on Zoom Platform.

While welcoming the guest, Shri Rishabh C. Kothari, President, MCCI in his address shared that the government is making a move to set up a National Blockchain Framework to prepare a Centralised Ecosystem that will cover as many as 44 sectors including e-governance. In the Union budget 2022, the Government has proposed to issue a digital rupee managed by the RBI; Central Bank Digital Currency (CBDC) will revolutionize the fintech sector by creating new opportunities. Blockchain has remarkable growth potential for India; it is one of the emerging technologies that’s redefining the way companies do business.

Shri Prasanna Lohar Chief Innovation Officer, DCB Bank said, “Black Chain is a technology which brings light minded people coming together to operate total supply chain management in specific sector namely telecom, agriculture, healthcare, education, banking & finance, manufacturing, insurance etc.

While speaking about industry evaluation, Shri Lohar pointed out Blockchain technology is the backbone of Industry 4.0. Blockchain adds more trust layers to the users while using any specific application.

‘’You have to adopt technology to move ahead’’ – said Shri Lohar.

Shri Lohar mentioned some challenging areas like Global stability, Social media, Supply chain, Insurance, online frauds etc which have been solved by the Blockchain technology.

While speaking about Blockchain system, Shri Lohar mentioned that it is accessible to anyone, single source of data to store events and ownership activities, with no use of separate system and data base.

‘’Blockchain is the future of banking system, India will witness banking with no bank by 2030’’- said Shri Lohar.

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