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After 70 years of independence and 20 years after liberalization, India remains largely undigitized and for the first time, this is an advantage.
Government registries are often the authoritative data source about a person, place or thing.
With a Real ID based on blockchain, there can be a national registry (group text message) of people who are licensed to lawfully carry and own firearms.
A UCC blockchain platform has the capability to provide timely notifications that can improve the way the filings are monitored, thereby preventing many of the creditor pitfalls highlighted above.
The NFT space still has some major challenges around the ownership issue that need to be solved.
The industry recognizes that there are significant issues with fraudulent parts flooding the market and this is a significant risk when vehicles are imported or change ownership.
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