Blockchain capabilities to track the ownership of digital assets, prevent fraudulent activities and provide transparency in business dealings is proving to be highly useful in the finance industry. We have already seen financial industry leading the blockchain use cases as there are scores of important arenas in the finance domain such as clearance and trade settlements, cross border payments, selling and buying assets, and so on.

With a distributed ledger, everyone involved in a transaction can see the details of the agreement without having to trust anyone else. This allows businesses to operate with greater credibility and transparency. The financial industry continues to lead the use of blockchain and the domain has witnessed significant investments in the last few years for adoption of blockchain technology.

To highlight use cases of the blockchain in Finance Industry, Lakshay Gaur of Zeeve was invited for a Twitter Space AMA where he answered some relevant questions on the real-world applications of blockchain in resolving major challenges of the banking and finance sector. It was a great attempt to make finance and web 3 enthusiasts understand how Foundational Technology Blockchain will disrupt the Finance Industry!

The session started off with Lakshay highlighting the use cases of blockchain in finance and also further elaborating on how it has changed the complete financial landscape. Demonstrating the powerful blockchain use cases in leading financial transformation, he spoke on the finance project where he worked on using the hyper ledger fabric.

He went on to answer some pertinent questions about how banks use blockchain/cryptocurrency without changing the status quo from decentralized to centralized. Questions on e-rupee, CBDC were also fielded to him to give views a better understanding of how blockchain has disrupted banking and finances. He also pointed out the industries that can use blockchain technology but are slow adopters. The session also had something interesting for blockchain developers trying to make it big in fintech space and viewers willing to understand how tokenization can solve complex financial problems.