In the episode today, we host Nishchal Shetty of WazirX to talk about the world of Blockchain and Cryptocurrencies. We avoid speculating on bitcoin prices and instead focus on the fundamentals of blockchain.
Blockchain and Crypto are often misunderstood. In order to understand it better, Nishchal broke down the four primary blockchain use cases:
Asset: These are store of values, deflationary in nature. Bitcoin is the perfect example for this.
Currencies: These are equivalent to digital currencies, inflationary in nature. A Digital INR will fit into this category.
Utility: These are blockchains that are used to run various different programs and smart contracts. For example: Ethereum is a blockchain used to run different blockchain programs and Ether is the token used to run these programs.
Security: This is when the blockchain is used to back real world securities like stocks and properties.
We also discuss the various applications of Blockchain from Decentralised Finance, NFTs, and Supply Chain Traceability.
And we touch upon the regulatory environment of Crypto and Blockchain in India and the future of this technology.
If you're curious about the world of blockchain, highly recommend you listen to the episode. If you're not curious, well, this IS the future, might help learning about it now!