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Adopting Blockchain is at the top of govt’s to-do ledger

Sanjay Dhotre, minister of state for electronics and IT said, “Blockchain technology is one of the important research areas having application potential in different domains such as governance, banking and finance, cyber security and so on.”

ET Bureau|
Updated: Nov 28, 2019, 08.29 AM IST
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MeitY has supported a project titled Distributed Centre of Excellence in Blockchain Technology with the Centre for Development of Advanced Computing (C-DAC), Institute for Development & Research in Banking Technology (IDRBT) among others.
NEW DELHI: The government is preparing a strategy for nationwide use of blockchain technology with an aim to scale up and deploy the distributed ledger solution to improve governance.

“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...” the ministry of electronics and information technology (MeitY) said in response to a question in Lok Sabha.

Sanjay Dhotre, minister of state for electronics and IT said, “Blockchain technology is one of the important research areas having application potential in different domains such as governance, banking and finance, cyber security and so on.”

MeitY has supported a multi-institutional project titled Distributed Centre of Excellence in Blockchain Technology with the Centre for Development of Advanced Computing (C-DAC), Institute for Development & Research in Banking Technology (IDRBT) and others as executing agencies.

The Centre conducted research on the use of blockchain and developed proof-of-concept solutions. While the property registration blockchain solution has been developed and is being piloted at Shamshabad district, in Telangana, solutions are also being developed for enabling cloud security assurance, C-KYC and trade finance.

Dhotre added that generic blockchain based proof of existence (PoE) framework is developed to enable PoE for digital artifacts, used to check the integrity of academic certificates, sale deed documents, MoUs, etc. “By using PoE framework, solution is developed to authenticate academic certificates. Blockchain technology has also been used and PoC is developed for vehicle life cycle management and hotel registry management PoC,” Dhotre said.

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