DEV Community: Blockchaincommunityindia

How is Blockchain security is changing everything in the digital world

Blockchaincommunityindia — Thu, 06 May 2021 08:31:03 +0000

In a digital world, a key concern and challenge that has remained unchanged over the decades are that of digital security.
What are the digital threats?

A digital threat can be in any form such as phishing attacks, routing attacks, Sybil attacks, stealing of personal digital signatures, data breach and many other cyber-attacks, frauds the list could be endless.

For businesses of any size and form, it becomes extremely important that their operations and transactions are safe from these threats, there are no security breaches or unauthorized access to their trade secrets.

What role blockchain plays in providing security and what are some examples of blockchain security?

Blockchain with its unique feature of decentralization, cryptography makes every transaction trustworthy. In this technology, data transacted are time-stamped and structured in blocks. Each of these blocks either contains a transaction or a merged bundle of transactions. Through a cryptographic chain, all the new blocks are sequentially connected to the blocks of the transaction before and after it.

Blockchain technology enables government and private agencies to have robust data privacy and key management, safe communication and Identity and access management. A business that uses blockchain technology could be well using a security strategy that could use traditional as well as technology unique security controls.
A strong consensus mechanism comes into play to ensure that each transaction is done is trustworthy and accurate, the transactions within the blocks are validated through this mechanism.
Blockchain technology provides security through its unique characteristics and covers many areas of security:
Each transaction is encrypted, with a unique link to the old transactions.

As a powerful digital ledger, all transactions made within its system are distributed and duplicated across its networks.
The transaction once done through its systems remains unchanged and is easily traceable.

Blockchain technology along with strong cybersecurity helps digital security and business operations become more scalable. It would reduce any chances of unauthorized access to the network and tamper with transactions.

Some of the potential use of Blockchain security are:
It can stop security breaches in an automated system.
Blockchain can verify the authentication of any software download or update, ensuring they are virus free.

Its decentralized system is more equipped in facing the chances of cyberattacks.
It provides secure digital identities.

Because of its benefits, blockchain is being used in multiple industries such as healthcare, supply chain, energy sector and many more industries.

It would be correct to say that digital security provided by Blockchain technology indeed helps business owners to focus on their business so that productivity remains high. It gives cover against the loss of confidential information, alteration or deletion of data, thus ensuring smooth business continuity.

As technology is becoming an integral part of businesses and ordinary lives, it's the need of the hour to focus on data privacy and digital identity. Blockchain technology provides a solution to these vital issues. Blockchain community India in this cyber landscape provides the best business partnership to blockchain-based startup in India through its community.

What is the Blockchain Community of India's Projects

Blockchaincommunityindia — Tue, 05 Jan 2021 06:52:30 +0000

The Blockchain Community in India has changed and is still changing the aspects of different industries and businesses. With Blockchain and AI, the working dynamics have changed positively with slow and steady growth. The businesses and industries BCI owns are Education, finance and IT, healthcare, hospitality, and supply chain.

Below are each industry and how BCI is performing on it.

Blockchain and AI uses in Education:
Overall responsiveness of organization and offices could be improved by using AI invigorated systems inexplicably to improve the capability of various schools and associations, reduce their record-keeping up costs and give them more significant detectable quality into pay and expenses. Any kid can access study rooms which are worldwide available easily by man-made brain power structures. It won't simply make a strong learning measure yet besides all engage the significant work that goes around in the organization.

Blockchain and AI use in Banking/Finance Segment:
The financial sector is one of the sectors where blockchain and AI are widely used, but mostly in large organizations. Therefore, BCI is focused on introducing blockchain and AI in small sectors such as microfinance and fair transmission. One of their flagship projects is BitKart - BitKart is one of the safest and most covert projects designed to buy or sell your digital currency. Especially for the Indian People's Group. You can easily convert USD to INR. This application is consistent and informal to use. It enables secure distributed exchange in a user-friendly environment. Buying and selling fiat currency is rarely natural, quick, and rewarding. Another important project is the UPI application, which is not only developed for online protection but also allows offline payments. Another project that BCI is proud of is the NIDHI project, which is designed to borrow and lend money. Finally, BCI uses microfinance technology, and while these technologies and systems are expensive, BCI is working with companies to make the technology accessible to all.

Blockchain and AI in IT and E-commerce:
Ecommerce portals are one of the fastest-growing businesses of this era. People are ready to buy vegetables, clothes, groceries, books, and anything in the world via e-commerce. The introduction of Blockchain in these websites will make many systems more efficient. For example, Blockchain will provide logistics systems that will be very difficult to integrate,consumers and sellers will be able to track product details like shipping, etc. Secondly, it will create a completely transparent system, and as a result, the consumer will be able to verify the details of the sellers and authenticate themselves. They can find out whether the factory is legitimate or not and then make the purchasing decision. Finally, AI also provides customer feedback systems and complaints systems that take place through automated response systems.

Blockchain and AI in Healthcare:
Healthcare is one area that includes tons of data either as a small hospital or hospital data of critically ill patients and as medical information- the need for more advanced information protection. This blockchain will bring better management information to the hospital system which will allow for better screening for different partners including medical insurance. It will also get better specialist medical examiners looking for patients to provide different medical treatments. Another important project in which BCI works is the Radiology Artificial Intelligence Lab which deals with a wide range of problems in the field of data science. Our goal is to develop devices that teach image-based techniques to help make clinical decisions, avoid medical procedures, and ultimately improve a patient's health.

Blockchain and AI in the Hospitality Sector:
Blockchain records negotiations between the two parties in a secure and trackable way. This should be very useful in the hospitality and travel industry because of the many events between the parties in the online hotel industry. Drawing and checking is one area where blockchain can be used. A second customer loyalty program hosting service is now used by many select hotels but it is often not used by customers and blockchain will change that part. As well as the last Inclusion of data and paid companies and on-premises travel agencies have improved significantly and broadly. Adoption of blockchain, the protection is set to improve folding.

Blockchain and AI in Supply chain:
Blockchain is one of the key new technologies changing digital supply chain management. As the complexity of the supply of goods in nature increases, including the number of partners, and is largely dependent on other external partners as well, blockchain has emerged as a robust and stable means for the management of all information/documents/communication changes are taking place within the ecosystem. While there are still issues using blockchain, many successful efforts indicate that managers can see significant benefits from blockchain, ranging from cost-saving and increasing efficiencies to new modeling operations. To learn more about these projects, you can visit the website and contact the Blockchain Community India team.

What future does the blockchain community India holds?

Blockchaincommunityindia — Wed, 09 Dec 2020 06:31:36 +0000

Blockchain Community India (BCI) is building a community that will revolutionise how traditional businesses use technology. As they intend to bring AI and Blockchain into business activities such as
payment gateways, administration systems and much more. As we know that 2020 resulted in shutdown of many businesses and that all businesses learnt that technology is the new normal which means
that more and more businesses want to bring technologies into their functioning and make sure that they can do business from anywhere to anywhere. In such a situation BCI can play a crucial role and thus captivating the opportunity they will bring more businesses into their network.

Currently in India there is a spike in demand for blockchain technologies from Finance, insurance, supply chain sectors who want to build very secure systems from tracking payments and other activities. Even the government organisations like RBI also emphasized on how blockchain technologies can be used to
track frauds and prevent malicious activities in the system which means the government is also welcoming such technologies into their system.
There are few more sectors which will definitely bloom in the coming years:

For Securing Data Online: Since data in the blockchain is not stored in a central place but rather in a systematic decentralised system, it is impossible to manipulate or hack data and hence in the future Blockchain will be used to store and secure the data.
Transparent Administration: Blockchain will be used to administer the organizations well. All the data about the employee or different stakeholders can be stored and shared in a public forum which makes access to the information very feasible.
Protecting Intellectual property rights: Intellectual property rights is very much discussed in today's time as more and more people become part of the virtual world. Using blockchain technologies any content creator can track where their content has been used and this will help them protect their content from misuse. Apart from that blockchain will flourish in health, education, hospitality and many more sectors manage the data and much more.

In this phase of transformation of the business sector and bringing digitalization. The application of Blockchain Technology is one of the most innovative and exciting. Which is said to shake the global level scenario. The Blockchain Technology is gaining attention of even the smallest size of producer in India too. The system is attractive and efficient as there is no central power. It transfers power and control from large entities to the many, enabling safe, fast, cheaper transactions in a completely transparent manner. Since, the Blockchain Technology is being seen as an infrastructural need of Indian industries to compete in the global market, hence it means that this will become almost a compulsion which means that the business will look at it as a good investment to grow, rather than expense.

Blockchain Community India plays a crucial role in systematic development of such technologies which are ready to use and enable more and more businesses to become technologically advanced. Apart from that BCI also focuses on creating awareness about such technologies so that businesses are secured from frauds and other malicious activities and also enable more youngsters to join the community and become an asset to the community. Hence BCI will work as a mediator for all the businesses and create a wholesome community which will give all the businesses to engage in discussions and solve problems with ease and further create more opportunities by sharing resources. Hence this is the best time to
become part of the revolution and experience it up close.

What is Blockchain Community India?

Blockchaincommunityindia — Mon, 30 Nov 2020 07:14:49 +0000

2020 has been an impactful year for all the years and the need of doing business using technology has never been more. The kind of demand which is shown by traditional businesses to move to digital systems is way higher than previous years which means there is a need for simpler systems and also secured systems, this is where Blockchain Community India comes to work.

Blockchain Community India is an open source network which focuses on bringing Blockchain and Artificial intelligence technology into the traditional businesses of India and make them more efficient by equipping them with the right technology for the coming years.

BCI along with its team of investors looks for different projects where they can support business in terms of technology and build better interfaces and bring out more opportunities for the business to grow. The USP of BCI lies in using both knowledge of tech geeks and in-depth analysis of business minds to create a dynamic system where traditional businesses can grow using technology and they do not get obsolete. BCI provides support for both business and technology.

Currently Blockchain Community India is working on the following sectors:

Blockchain and AI in Banking and Finance
Blockchain and AI in Schools and colleges
Blockchain and AI in Hospitality Sector
Blockchain and AI in Health Sector
Blockchain and AI in E-commerce and IT Sector

Apart from working with the businesses BCI also works on building a community for both business and for the tech industry. Here is what majorly tries to focus upon:

Creation of a strong ecosystem for all the members and creating strong business relationships between all the members. Which will build strong roots for more partnerships within the community.
Portrayal and backing of common interest of all the stakeholders. So that everyone is part of the decision making process and are equally responsible for the growth of the community.
Creating a platform where all the problems and challenges related to technology can be addressed.
Looking at the progress of different technology through the evolution systems and implementing them to all the businesses and making sure that at all the time the latest technologies are equipped.
Providing a platform for the young talent to bring out their creativity through Hackathons and conferences and support young professionals to create better technologies.
Establishment of new prospective collaborations, exchange of ideas, technologies and experiences on community forums.
Universal support for young specialists and project teams to enhance business and create a dynamic system overall.

Blockchain community India works on a very unique and dynamic system where both business minds and tech minds can work together to create technology for business minds. Whoever becomes a partner with BCI is entitled to all the decisions which are made in the organization and hence we call it a community. BCI believes that there should always be a sense of community because when everyone is equally responsible for the success of anything which gives everyone a great boost to work hard.

BCI only has a small body who works on research and different aspects like technology and legality. This core body collects the data of all the future prospects and the rest of the decision is taken by all the members and hence all the people who decide to be part of it are given a chance to represent thoughts and ideas.

Overall in all the sectors Blockchain will be used to create systems more efficient and it will reduce a lot of work for businesses as the all-important will be stored in a secure way in which access to many people will be given at the same time, segregation of data will be done in seconds and the data that will be stored through blockchain will be secured and all that will be done just using simple systems. Hence Blockchain holds a great future in the coming years. In the coming years the sector will see tremendous growth and then it will become more difficult to invest as the cost of investment will be touching the roofs but BCI is giving opportunity to invest and be part of that growth to both investors and businesses who want to become part of the revolution.

How the blockchain community of India is decentralized?

Blockchaincommunityindia — Tue, 06 Oct 2020 07:15:48 +0000

Making decentralised blockchain systems an integral part of digital businesses in India

Blockchain Community India is India’s first decentralised Blockchain Community. Being the visionary of enabling maximum businesses with blockchain technology, BCI focuses on the core importance of decentralization and has been using it in their network since the inception.
Decentralization simply means that the information is not stored in the central system but is shared with multiple parties which are known as network partners. Here each of the users usually stores a copy of the resources that they can access anytime.

Why is decentralization preferred over centralization?
Centralization of data is the traditional method of storing data and has been used in major official bodies like corporate houses or government bodies here all the information is discrete and can be only be accessed by one or very few officials.Hence Centralised data can be edited intentionally or unintentionally which causes a lot of questions to data security. On the other hand in decentralised data once anything is registered it is impossible to rewrite it and any change made is recorded and hence many organizations are adopting it to inculcate transparency in data keeping.
Secondly financial services are easier in the decentralized blockchains because there is peer to peer connection which reduces the cost of middlemen directly, for example the extra fee and time incurred in making foreign transactions are completely removed. Hence decentralised systems are both cost and time efficient making them more viable for the global interactions of the business.
Lastly decentralised systems also comes with automation and many of these features also help in smooth functioning like retrieval of data using shortcuts and this again helps in easing the processes, the centralised way on the other hand is a long and often time consuming and hence decentralised methods should be used when it comes to sharing and using of heavy data files or when there are many stakeholders involved.

Decentralization in Blockchain Community India
Decentralisation is practiced and is promoted by BCI as we believe that a community should be made up of everyone and hence each and every person who comes aboard is equally important to us. BCI hence has a culture of decentralised powers and hence there is no decision making team. Rather every partner is given a chance to make a decision for the company. We believe that if the opinion of one can bring small success then 1000s of minds together can make the vision of blockchain in India successful. Hence every person who is part of the team decides on every single decision that affects the community. Every person is equally responsible for the success. BCI also believes in complete transparency and hence all the information related to the community is available at easy access.
Other than this Blockchain Community India also uses decentralized systems in all it's partnerships too. All the organizations that we work with are also provided to use decentralised systems. Thereby we go forward in creating a decentralised community in India.