Deepak Thapliyal Explains Why Blockchain Needs to Be Institutionalized

Deepak Thapliyal

Written in partnership with Ascend Agency

Since the introduction of Bitcoin in 2008, more and more people are increasingly becoming aware of the value that blockchain adds to the business world. It has become more evident to most investors and entrepreneurs how these digitally distributed ledges can revolutionize their business operations. The rapid adoption of blockchain by multiple businesses, organizations, and corporations clearly indicates the potential positive massive impact of the technology. For instance, you can easily fast-track, verify, and trace every single step, even in a multi-step transaction, at fast speeds while saving extensively on costs. This stands out as one of the key reasons blockchain enthusiast, Deepak Thapliyal, urges more entrepreneurs to adopt blockchain.

Deepak Thapliyal is the founder and CEO of Chain, a leading brand helping institutions develop and launch their blockchain. According to Deepak, using a private blockchain improves transfer efficiency, lowers costs, and increases security because cryptography verifies each transaction. These private networks can have rules and security requirements, making them perfect for stock exchanges that require numerous transactions. The adoption of blockchain technology changes the landscape of finance significantly as this means the controlling authorities would lend their power to a decentralized system of finance.

Established in 2014, Chain stands out as a unique company on a mission to table a unique approach for totally private networks safe from public access or from unauthorized and fraudulent users. Chain is also notable for its partnerships with some internationally recognized brands such as Citibank and NASDAQ, the stock market that oversees and regulates most stock exchanges.

Thapliyal believes that major institutions should adopt this approach, as controlled blockchain technology is the way of the future for them. To him, institutions should be able to manage a blockchain based on the individual requirements of their customers and tailor it for their business strategy. Additionally, utilizing a public network is far less efficient and probably isn’t in the institution’s best interests. The economy may completely transform if institutional adoption of private blockchains became commonplace.

Thapliyal also wants others to see that blockchain technology can potentially improve security, guarantee data integrity, minimize audit burden, and eliminate duplication in certain applications. This is important not only to businesses but also to governments as they seek to protect their citizens from online-related hacks.

Today, Deepak Thapliyal takes pride in increased cryptocurrency awareness. More importantly, he considers it a significant milestone that Elon Musk, the wealthiest man on Earth, has adopted a pro-crypto stance by promoting them on Twitter and other social media sites. Many people have made a lot of money via the internet, and these forms of payment are already starting to be accepted at big-name stores.

Cryptocurrencies are a part of the present and might even play a significant role in the future, along with extensive public backing, institutional adoption, widespread excitement, and celebrity endorsement. Utilizing similar blockchain technology to what has become quite popular, Chain aims to profit from the transition away from traditional banking practices and toward a more safe, private, and efficient transaction method.

Deepak Thapliyal

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