In recent years, the concept of financial inclusion has gained prominence as a crucial element in both economic and societal progress. This study investigates how blockchain technology could enhance financial accessibility in the unique socioeconomic context of India. Through an extensive analysis of a variety of blockchain applications, such as decentralized banking, digital identity verification, and transparent transaction procedures, this paper investigates the feasibility of utilizing blockchain technology to enhance inclusive financial systems. It closely examines the obstacles to blockchain adoption in India, such as governmental regulations, public sentiment, and the limitations of the country’s technology infrastructure. In order to raise awareness and encourage adoption, it also examines how to include blockchain education initiatives. This study adds to the discussion on financial inclusion and blockchain technology by fusing theoretical knowledge with real-world applications. Additionally, it offers a way to apply blockchain technology to advance inclusive economic growth in India.

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Bridging the Gap: Exploring Blockchain’s Role in Enhancing Financial Inclusion in the Indian Context

  • Pradeep Chintale,
  • Pranay Waghmare,
  • Shivi Khanna,
  • Ankur Mahida,
  • Gaurav Gupta,
  • Shantanu Kumar,
  • Saikat Gochhait

摘要

In recent years, the concept of financial inclusion has gained prominence as a crucial element in both economic and societal progress. This study investigates how blockchain technology could enhance financial accessibility in the unique socioeconomic context of India. Through an extensive analysis of a variety of blockchain applications, such as decentralized banking, digital identity verification, and transparent transaction procedures, this paper investigates the feasibility of utilizing blockchain technology to enhance inclusive financial systems. It closely examines the obstacles to blockchain adoption in India, such as governmental regulations, public sentiment, and the limitations of the country’s technology infrastructure. In order to raise awareness and encourage adoption, it also examines how to include blockchain education initiatives. This study adds to the discussion on financial inclusion and blockchain technology by fusing theoretical knowledge with real-world applications. Additionally, it offers a way to apply blockchain technology to advance inclusive economic growth in India.