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Nice article, on of things i have seen is in some digital/mobile apps based on some basic information of the customer, lot of information gets prefilled, is some type of deep learning techniques involved here.  For example: given the name and some type of ID (based on the country), they are techniques available to pull other information related to CC and other loans. This helps with less of documents needed and move the process forward quickly.

Thank you for the post

Good insight, nicely written. Recently i had attended talk on how to do AI responsibily and avoid unintended consequences. What you mentioned above could result in unintended consequences if the element of bias is not checked and the urge to be first is not resisted. It is important to be truthful and unbiased, aleast there needs to be good vales/practices around using big data.

Excellent article, liked the phrase Data is the new oil. Lots of the big banks are sitting on mountains of data, how they utilize it would determine the future strategies and patnerships.

Hi Breana, What is the purpose of each party being assigned a crytographic key, is that to enable them be part of the network? or is it used whn creating a block.

@Ketharaman: Thank you for the response...

Thank you Ketharaman for the detailed insights, learning  a lot from these articles where you deep dive into the mechanics and evaluate cost/customer efficiencies. I get the benefit of using blockchain for robustness, especially avoiding the single point of failure trap. what i am struggling is with the mining , verification and trust aspect of blockchain. On a Side Note: is ACTIVE/ACTIVE DR solution possible for operational/transaction data?

Thank you Priya for the details and explaining the concept of smart contracts. Will check out the youtube videos.

Hi Priya, could you share some details on what smart contracts are and how they help in blockchain.

Thank @Chris for the detailed write up, providing insight to what the process looks like behind the scenes. I agree with @ketharaman on the approach to handling transactions that take time without going off chain, i think this would be crucial part of the design for blockchain.

Thank you

Thanks for sharing your experience with Blockchain. would like to know the process as to what happens behind the scenes, waiting for transaction to be mined - i guess the miner needs to be determined so that it can be validated/written to a distributed ledger/db?