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Indian Government’s First undertaking of Blockchain technology

Feb 08, 2018 Posted /  44396 Views

Indian Government’s First undertaking of Blockchain technology

“The Government will also explore the use of blockchain technology for ushering in digital economy.” – Arun Jaitley

The Indian government is still not sure about cryptocurrency but quite excited about opting for Blockchain technology for digitization of records. Its first project using distributive ledger technology is in the field of education sector where a trial of Indiachain, blockchain technology of Indian government is executed. As per source, the Trial will be conducted with some of the colleges of Delhi and IIT, Bombay under the surveillance of Niti Aayog which is called the think tank of the Indian government.

“The pilot trials will begin soon and once that is successfully completed, the full-scale implementation will start. The plan is to start issuing digital certificates on the blockchain (IndiaChain) from the 2019 batch onwards,”

Reportedly, after successful completion of digitization of education certificates, Land titles can be next project of Indiachain. The education sector is comparatively less complex while the process of land digitization will take much longer time.

Working of Blockchain

The blockchain is a decentralized Virtual ledger which is maintained by several networking systems. The computers involved in maintaining data are called Nodes. In simple words, it is a large book of records that are present virtually and shared among various people. Unlike centralized data, the data is present at various systems which is accessible by all but no one can make changes unless agreed by other nodes which makes it safe and secure as the records cannot be tempered.

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Need of data keeping evolution

In India, it is no difficult to get a fake education certificate. Either you can have a degree from fake universities or a fake degree from a legal university. An incident was reported where three men were involved in a fake degree racket and one of them was a Delhi university pass out. A huge amount of money is spent by companies for inspection of education certificates and a digital certificate based on the distributive virtual ledger is a way out of this problem.

Another benefit of opting for prevailing technology is for candidates willing to work in other countries. To apply for employment in foreign nation graduates are asked to get their certificates attested from Ministry of Human Resources in order to check authenticity which is a time-consuming process.

About Indiachain

As per reports of Factorydaily, Indiachain is a governance project on the Blockchain executed with various objectives such as deduction in frauds and scams, promotion of transparency, speed up of projects and boost agricultural economy. Some of the other proposed Indiachain projects are health records and land records.

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Tags: blockchain technology India technology decentralized virtual ledger

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