QR Codes and Blockchain Technology
Charting the Course Towards a Digitally Inclusive Society
22nd June 2023
Prabir Mishra
The rapid and relentless wave of technological innovation has profoundly transformed our lives in the past decade. It has reshaped our means of communication, modes of commerce, and understanding of what is possible. Amidst this wide panorama of technological advancements, two key innovations have surfaced as revolutionary disruptors – QR (Quick Response) codes and blockchain technology. These breakthroughs have permeated diverse sectors worldwide and are at the forefront of driving significant changes in India’s digital landscape.
In 2018-19, when TRST01 was just an ambitious initiative taking root, there were already discussions about the patent of QR codes. This simple yet powerful technology has since permeated almost every industry imaginable – retail, payments, education, healthcare, and more – due to its universally accessible ‘scan and go’ functionality. In our July 2021 post, “Blockchain Technology for All“, we put forth a robust argument for the democratization of technology. At TRST01, we firmly believe that technology should be an inclusive force, not an exclusive privilege for a select few. In our view, the real maturity and potential of technology, like blockchain, are realized when it becomes deeply integrated and accessible in people’s lives, irrespective of their socio-economic status. This inclusive approach not only drives technological advancement but also fosters social development, bridging gaps and creating opportunities for all.
Fast forward to today, June 2023, and the pervasive impact of QR codes on the Indian economy is apparent. As reported by the Economic Times, QR codes have become a linchpin in the Indian economic ecosystem.
Banks, financial institutions, and even small retail businesses are enthusiastically embracing the QR code revolution, signalling a seismic shift towards digital transactions and a more inclusive financial system.
In a thought-provoking article, “The Code ‘QR’ Defines Our World“, published on 2nd March 2022, TRST01 provided an insightful analysis of the ubiquitous influence of QR codes in our daily lives. This innovative technology, with its simplicity and efficiency, has seamlessly bridged the gap between the physical and digital worlds. It has reinvented our interaction with technology, making it more intuitive and accessible. Whether it’s making payments, accessing information, or verifying authenticity, QR codes have revolutionized these processes, underscoring their fundamental role in our digital age
Blockchain technology, known to most as the engine behind cryptocurrencies, offers a universe of possibilities beyond just digital finance. Its unique capabilities – to create secure, transparent, and decentralized systems – hold the power to revolutionize various sectors. From supply chain management and healthcare to education and public services, blockchain technology presents transformative solutions to age-old problems.
Blockchain technology can play a pivotal role in a country as diverse and complex as India, with stark socio-economic disparities. It can ensure transparency and traceability in public funds, thereby combating corruption. It can promote efficiency and accountability in governmental operations, fostering trust in public institutions. It can secure citizens’ data, protecting them from identity theft and fraud. It can even facilitate the creation of decentralized digital identities, thus empowering the underprivileged and underbanked sections of society, making them active participants in the digital economy.
As we journey further into this exciting digital transformation era, fostering a culture that encourages openness and inclusivity in technology becomes crucial. Technological advancements like QR codes and blockchain are undeniably reshaping our world. Still, they must be developed and employed to uphold the principles of accessibility, equity, and social justice.
The path we at TRST01 have embarked on is deeply rooted in this ethos. As we continue to advocate for the democratization of technology, our ultimate goal isn’t merely to observe the transformation but to play a defining role in shaping it. Our vision isn’t just about leveraging technology; it’s about instilling it with values that respect and uphold every individual’s right to participate in this digital revolution.
We see a world where technology isn’t just a tide that lifts all boats; it’s a force that ensures no boat is left behind. We envision a future where digital empowerment isn’t the privilege of a few but a right for all. As we strive towards this future, we believe that together, we can create a digitally inclusive world, a world where technology catalyzes sustainable and equitable growth. Our journey has only just begun, and we invite everyone to join us as we chart the course towards this digitally inclusive future.
