India to Launch National Blockchain Framework

Christopher ZeniosChristopher Zenios02/12/20192min
A national framework is being prepared in an effort to support the deployment of blockchain in India.

Sanjay Dhotre, Minister of state for electronics and IT confirmed that the government is drafting an approach paper on the National Blockchain Framework that highlights the potential for a distributed ledger and need for shared infrastructure.

This announcement was made in a letter answering questions about blockchain from the members of the lower house of the Indian parliament, the Lok Sabha.

One question from MP Parvesh Sahib Singh Verma asked if the government had encouraged and conducted research into the uses of blockchain technologies and what were the findings.

Dhotre in response wrote,

“MeitY has identified Blockchain Technology as one of the important research areas having application potential in different domains such as Governance, Banking and Finance, Cyber Security and so on.”

Dhotre added that the government is drafting an approach paper on the National Level Blockchain Framework. In addition, the Indian government has built the Distributed Centre of Excellence in Blockchain Technology.

Under this initiative, blockchain has been trialled in various sectors such as property registration at Shamshabad District, Telangana State, developed proof-of-concept solutions for Cloud Security Assurance, C-KYC and trade finance.

Ongoing projects look to implement the technology in academic certificates, vehicle life cycle, and hotel registry management.

 

Image Source by CryptoPolitan

Christopher Zenios

Christopher Zenios

Christopher has always been a pioneer, a first adopter when it comes to technological advancements. Over the years, his expertise surrounded the real estate and digital markets and their evolution in today's society. After being the editor to various professional business news portals and blogs, he was selected to become the chief editor for HWC. Contact Christopher at +357-22029786 ext: 6110 or by email at czenios@highworthcitizen.com for editorial related questions.



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