We all know that Bitcoin has got support from many governments and investors, but at the same time the Ethereum blockchain has also seen a huge backing by corporates like JPMorgan, Microsoft and Intel. This new currency has been designed to support smart contract computer application programme, and it can automatically execute the terms of a contract when certain conditions are met. It can be mainly used in finance, real estate and insurance.
Etherium can store any form of contract document that none of the sides can alter, and there will be no loss of data,and the system is fair as well as transparent.In near future as the technology begins to grow and it will bear fruit and more and more companies and businesses will begin to adopt the technology . A consortium of major fortune 500 companies have formed Enterprise etherium alliance(EEA)and this is a huge boost to etherium.
Now since we know that it uses smart contract and different companies can use its platform as its base by using its software. This technique can reduce a lot of headache who want to register any physical asset, this also reduces time and lot of paperwork. In India there is a huge problem in court and legal related work.
India is a place where lot of Startups are coming up very fast and this is going to get a boost since Our Pm Mr Narendra Modi is specially emphasizing on this. for the startups this can be big boon as the startup can build A crowdfund to pre-sell a product
sell virtual shares and also auction of a limited number of items.
Ethereum can be a big boon to healthcare system. All hospitals across India can store, access and share their patient’s records. This is a very important factor in developing new vaccines . You can go to a doctor in Vellore (chennai) for a treatment and when he is back home lets say in Kolkata both the hospital will have same information.
For all the above we can say that Etherium Another Bluechip For Indian Economy