CIO Wall

Milind G Mungale

Executive VP & CISO - NSDL e-Governance Infrastructure Ltd.

CIO Perspectives

Creating a New Standard of Trust in Business Transactions

Banking and capital market transactions have become digital. Today, even in the insurance sector, there is a lot of transparency in the system. However, people mistrust electronic transactions in these sectors. Over a period of time and with everything becoming virtual, the whole concept of trust that evolved through face to face interaction will diminish. Now you trust the system and over a period of time, the only alternative to trust is transparency. Any system bringing in more transparency will sustain. A platform like block chain lets you verify your transaction because you have the choice to continue or abort a transaction. Cryptocurrency came into existence because it is a trustworthy currency and that is why it has evolved so rapidly and helps to enhance trust.

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