Reserve Bank of India, i.e., the central bank in India has consistently opposed cryptocurrencies. A lobbying effort on part of technology businesses in India is underway to relax the India crypto ban.
Identity management has a large market, however, it’s plagued with challenges. Blockchain can help here, and the recent move by Microsoft into the blockchain identity solutions space is a good news.
IoT has significant opportunity for consumer products, however, it needs the help of blockchain. Implementing “Distributed Ledger Technology” (DLT) for smart devices can be tricky, and a recent EVRYTHNG/IOTA partnership can help blockchain IoT use cases.
Real estate a large market, however, real estate transactions are cumbersome, slow, and expensive. A recent blockchain real estate pilot by Barclays and RBS shows promise, though.
Micropayment is a key blockchain use case, however, the scalability remains a challenge. A new StormX micropayment blockchain patent will likely help.
Bitcoin mining is a computation-intensive operation that also incurs a high electricity cost. A new Intel blockchain patent proposes to use hardware accelerator to reduce this energy cost.
Smart transportation needs IoT, and blockchain can help here. City of Austin has now teamed up with IOTA Foundation for a blockchain transportation project involving IoT.
Crypto hot wallets continue to be targets of cryptocurrency hacking. In a recent incident, DDoS botnets targeted 152,000 users of popular Bitcoin wallet Electrum.
Responsible sourcing of minerals is a challenge, in view of a lot of mining activities happening in conflict zones. Volkswagen, the German multinational automaker plans to use a supply chain blockchain solution to ensure responsible sourcing of lead for their batteries.