Blockchain-Powered FinTech: Shaping the Future of Indian Industries
Swapnil S. Sonawane, Dilip Motwani · 2023
This study delves into the transformative influence of the blockchain technology on Indian FinTech enterprises within the context of Industry 5.0. It comprehensively examines the integration of FinTech across diverse industries, highlighting the unique challenges and opportunities specific to the Indian business landscape. Real-world applications exemplify blockchain's capabilities in enhancing security, optimizing payment processes, and strengthening identity verification. By evaluating the advantages and obstacles of adopting blockchain in Indian FinTech, including regulatory compliance and scalability concerns, the research sheds light on the convergence of Industry 5.0 and blockchain- powered FinTech. Notably, potential impacts are revealed, such as the emergence of novel business models, decentralized financial ecosystems, and improved customer experiences. In conclusion, this study encourages further exploration of blockchain's potential in shaping the future of Indian industries, inspiring innovative strategies, and providing valuable insights into future trends in leveraging blockchain for Indian FinTech within the Industry 5.0 paradigm.