Examining Blockchain Enabled Ledger Maintenance Requirement for Rural Self Help Groups

Abstract

Blockchain is a distributed ledger that stores information on networked nodes, ensuring that a single node cannot alter the data. Blockchain has become popular for decentralized and distributed applications, especially managing financial records. This paper examines the importance of using blockchain to maintain decentralized ledgers for self-help groups running micro-finance for rural women in India. This paper provides a comprehensive overview of blockchain technology and its various applications. It also investigates the factors that influence the adoption of this technology by the community. This paper also acknowledges the challenges posed by the digital divide in rural villages, which make it difficult for people to accept and utilize this technology. The paper aims to enhance transparency in governance and create a secure financial module by integrating blockchain technology.