The Government of India has been working on a policy for the expansion and widespread deployment of blockchain technology. Indian Government Working On National Level Blockchain Framework.
Sanjay Dhotre who is the Minister of State for Electronics and IT, announced the decision in a letter answering blockchain concerns from members of the Indian Parliament’s lower house, the Lok Sabha.
“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, for scaling up and wider deployment of Blockchain-based use cases.“
The Ministry of Electronics and Information Technology (MeitY) has recognized Blockchain Technology is one of the major research areas with potential applications in various areas such as Governance, Banking & Finance, Cyber Security, etc.
MeitY has already supported a multi-institutional project titled ‘Distributed Centre of Excellence in Blockchain Technology’ as executing agencies.
Dhotre said the MeitY is planning a strategy paper on the National Level Blockchain System for the adoption of the country’s blockchain technology.
A blockchain technology-based property registration platform has been developed and is being piloted in Telangana State’s Shamshabad District.
Proof of concept technologies have also been developed by Cloud Security Assurance, C-KYC and trade finance.
Proof-of-Existence (PoE) based on the blockchain platform was built to allow PoE for electronic artifacts used to verify the authenticity of educational certificates, sales records, MoUs, etc.
The letter also stated that measures are being taken for integrating Blockchain with e-Sign.
India’s telecom regulator ordered all telcos to use Blockchain last June to help protect clients from spam.