Blockchain Technology

It is always a battle between morality and majority - Chandrababu Naidu

                 

Is the answer to our banking woes - Technology?

And better still - Is it Blockchain?

Indian public sector banking is usually in a deep mess due to frequent frauds like Nirav Modi, Vijay Mallya.etc. The frauds usually come to light at the time of elections.

People say that it is difficult to moniter each person for being uncorruptable,its difficult have zero political interference in the allocation of loans etc….So guys should it not be replaced with technology.

People will always have an argument that technology is not foolproof.Let it not be, but still it won’t be corrupted like humans. If technology is more honest than humans then I believe it is a more optimal solution.

So let see what are how these frauds go undetected.

For example, a decision on a loan application can be generated based on inputs of customers’ personal information. When a user intends to apply for a loan through an online application system, he/she may falsify some of the personal financial information, such as a fake repayment history, thus increasing the possibility of acceptance. Consequently, financial institutions have suffered tremendous losses due to loan fraud (Kim et al. 2012). As blockchain systems can keep historical transactions records, applicants cannot falsify information to obtain a favorable decision.

May be this is just a drop in the ocean but still it would be a step in the progressive direction for the country.

So the next question - So would humans be redundant? No not at all.

There are many areas where human discretion needs to be applied-may be till we are able to get an appropriate AI-like Amazon echo or Sirri.

I believe human discretion would be required in cases arising of genuine business failures. Also cases like steel and cement sectors, situations where input costs going high.

Solve a real problem. If the blockchain is the best tool, then use it. But never force it. Too many founders love the blockchain and then search for a problem to stick it.- Brayton Williams

Atal Bihari Vajpayee – The Statesman

Modi would have been a top contender to win MTV Roadies Extreme.

A charismatic leader, visionary and statesman. His leadership was usually at display when there was any crisis situation. The Kargil war ,the hijack at Khandhar of Air India plane or the US sanctions imposed post the Pokran nuclear tests. He was completely unwavered, captain cool and led the people with dignity.

For him the nations interest were paramount ahead of any electoral gains.

Vajpayee’s decision making was at fore when it was at sending troops to Afghanistan under the US military command. There was strong opposition from the opposition benches and had to be dropped, but the leadership showed his tact and strong Indian interests in mind ahead of its times.

Also his ability to deal with Mamta Banerjee, Mayawati and Jayalalitha his collision partners earned him respect not only by his colleagues but also by the opposition members.

He commanded respect, was an inspiration and was looked up to by the people of the country.

Two traits worth mentioning was his compassion for mothers and his ability to listen patiently and respect to everyone including the opposition.

This is in stark contrast to today’s leadership. Modi’s leadership is hollow. It lacks courage and content. His words empty, promises hollow. Modi even with a full majority fails to invoke respect within his own party colleagues forget outside.

Modi has failed in all departments whether it is women safety, women security or women empowerment. He actions evoke a terrible response from women. Respect for women comes through compassion for mothers, Modi fails that.

Modi’s response to crises have also been much to be desired whether it the people abducted in Afghanistan, or RSS people being killed in Kerala, Ochi cyclone in Kerala Modi seems to be busy with his electoral conquest.

Modi is good at one think though, his rhetoric towards the Congress, he never forgets to mention it in all the countries he visits and that too without any script.

Modinomics (Modi’s theatrics) does definitely make interesting viewership just like MTV Spiltsvilla or Roadies.

I must add, I may not have 56 inch chest but definitely I have enough love in my heart.