fbpx

India’s Mutual Funds May Benefit from Blockchain Technology

April 23, 2019

The Indian government, though standing its ground to not legalize cryptocurrency, has been warming towards blockchain technology. India’s Finance Minister Arun Jaitley has reiterated that the government is against cryptocurrencies, but development in the blockchain industry is another matter.  

According to an editorial published on the business analysis platform YourStory, businesses in the mutual fund sector call for speedy, transparent, and efficient operations. Today, mutual funds have been facing greater regulations, and investors are looking for better service providers.

Blockchain can be used to manage assets and serve customers in numerous ways that would also save on processing times and costs. The implementation of blockchain platforms could potentially save India’s mutual fund industry a large amount of money, for both firms and customers alike.

Moreover, with mutual fund industry focused on wealth generation, blockchain technology will enable fund managers to access real-time customer data. The data made available from a single, secure location will allow managers to make better-informed decisions in a timely manner, in order to select the best investments for clients.  

The Indian mutual fund industry has also seen problems, such as liquid funds, where bad loans have lowered the value of liquid funds and downgraded large companies.

In light of these developments, blockchain may be the best solution to keep track of data in the mutual fund system, as the technology could be relied upon to provide early warnings and detect flaws in investment processes. If implemented, blockchain technology could greatly disrupt the way mutual funds operate, similar to its effect on the finance and banking industry.

Source: yourstory.com

 

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Iran’s Power Grid Struck by Crypto Mining Surge
Token mining activity in Iran is causing an energy consumption spike that is forcing the government ...

July 16, 2019

Malaysia’s VisionBanker Aims to Transform Eye Care via Blockchain Technology
The company is using facial recognition and distributed ledger technology to allow users to store ey...

July 16, 2019

Excellence in Customer Experience and Operational Efficiency
Blockchain technology stands as the best technology platform candidate to solve the issues being fac...

July 15, 2019

Hong Kong Insurer Launches Blockchain-Based Solution to Process Claims
Blue Cross has become the first insurer in Hong Kong to employ blockchain technology to streamline i...

July 15, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us