This is an interesting topic and I share my opinion about it. View the original post written by me on Musing.io ( Steem dApp)

I see Blockchain technology and lots of potential to solve the major financial problems, one of them is banking fraud. I India two major banking fraud happened one is Nirav Modi and second one is Vijay Mallaya. Reserve bank of India and Indian Banks for credit score system like CIBIL. In most of the cases it is observed that error in CIBIL score, which result rejection of loan.

Top bank officials in India also tempered the current financial system because there is lot of error in current financial system. In current case past CEO & MD of ICICI Bank, A Top Indian private sector bank Mrs. Chanda stepped down from her position following allegations of corruption charges. We knows that blockchain technology can not to be manipulated or tempered for personal benefits as most of the bank official were involved in major banking fraud in India.

Let’s consider Blockchain technology as replacement of financial platform, As per my point of view blockchain technology can eliminate financial system from our life. Bitcoin is made to remove banks. Financial platform have need of blockchain technology but blockchain technology have no any need of financial institution. Crypto like XRP and XLM can do a lot for financial institution but the only problem is government regulation over crypto.

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• cryptocurrency
• blockchain
• bitcoin
• altcoin
• india