Government of India to Deploy Blockchain Technology at a National Level
The Indian government is eyeing the blockchain technology since it has a huge potential of being applied in various sectors such as banking, cybersecurity, education, and governance: securing the future of their economic development and growth. This strategic plan was made known in response to a question in the Lok Sabha as reported by the Indian Times on Nov. 27.
The Indian government has been eyeing blockchain technology since as it has a huge potential of being applied in various sectors such as banking, cybersecurity, education, and governance, securing the future of their economic development and growth. This strategic plan was made known in response to a question in the Lok Sabha as reported by the Indian Times on Nov. 27.
Sanjay Dhotre, Minister of State for Electronics and Information Technology (MeitY) said that blockchain technology is a diversified research area with multiple applications. He said, "Blockchain technology, as one of the important research areas having application potential in different domains such as governance, banking and finance, cybersecurity, and so on."
The press release then noted that Dhotre went on to say that the potential application of blockchain technology has led to the consideration of utilizing it across the national level. "Considering the potential of Blockchain Technology and the need for shared infrastructure for different use cases, an approach paper on National Level Blockchain Framework is being prepared."
According to the report, the ministry of electronics and information technology (MeitY) has always been supporting projects by acting as executing agencies. Such projects include; the Institute for Development & Research in Banking Technology (IDRBT), Distributed Centre of Excellence in Blockchain Technology with The Centre for Development of Advanced Computing (C-DAC), and others.
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