Blockchain Beyond Crypto — How Indian Enterprises Are Using Distributed Ledger Technology
A Category Error
When crypto markets collapsed in 2022, many enterprise technology leaders quietly shelved their blockchain initiatives alongside them. That was a category error. The volatility of cryptocurrency tokens has nothing to do with the utility of distributed ledger technology for enterprise operations — and the enterprises that maintained their blockchain programmes are now harvesting that advantage.
Where Enterprise Blockchain Is Working
In India, the most mature enterprise blockchain deployments are concentrated in three sectors.
- •Trade finance: banks on the Marco Polo Network cut documentary credit processing from 7-10 days to under 24 hours
- •Pharmaceuticals: blockchain-based serialisation systems maintain tamper-proof chain-of-custody records
- •Agriculture: ITC's e-Choupal network pilots blockchain-based provenance tracking for specialty crops
A Global Pattern
Globally, Walmart has mandated blockchain-based food traceability for its fresh produce suppliers since 2022. Maersk, despite discontinuing its TradeLens joint venture with IBM, continues to invest in distributed ledger applications for port and customs documentation.
Key Takeaway
Blockchain's enterprise value was never about tokens. It was always about trust — specifically, creating systems where multiple parties can share data without any single party controlling it.
By Grey Platforms
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