Fun

Indian Minister Inaugurates Blockchain Center of Excellence in Bengaluru

News Feed - 2020-01-21 07:01:04

Indian Minister Inaugurates Blockchain Center of Excellence in Bengaluru


A Centre of Excellence in Blockchain Technology has been inaugurated by Indian Union Minister Ravi Shankar Prasad in Bengaluru. It will facilitate various government departments in their blockchain work, leading to large scale deployment of blockchain applications.


Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia New ‘Centre of Excellence in Blockchain Technology’


India’s Ministry of Electronics & Information Technology (Meity) announced the inauguration of a Centre of Excellence in Blockchain Technology in Bengaluru by Shri Ravi Shankar Prasad on Saturday. Prasad is the Union Minister for Law & Justice, Communications and Meity. The event was attended by several dignitaries from the central and state governments.


The center was set up by the National Informatics Centre (NIC) with the aim “to provide blockchain as a service and allowing all stakeholders to benefit from shared learning, experiences and resources.” The Indian government described the NIC as “a premier technology advisor and ICT solution provider to government at all levels.” The NIC works closely with the central government, state governments, UT administrations, districts and other government bodies, offering them a wide range of services.



Speaking after inaugurating the center, Union Information Technology Minister Prasad said that India is witnessing digital transformation as most of the state governments are adopting technologies widely in their governance. He said that approximately 16,000 courts in India have been transformed into e-courts and technologies related to the Direct Benefit Transfer and e-scholarship developed by the NIC are already widely used. Prasad calls the NIC the “backbone of digital governance in India.” According to The Hindu news outlet: He [the minister] was particularly optimistic about applications of blockchain technology in primary education. He appealed to NIC to explore the potential of the new technology in improving the quality of government schools across the country. Union Minister Prasad reviewing the NIC’s initiatives at its headquarters. The Center’s Blockchain Work


The Centre of Excellence in Blockchain Technology has developed blockchain-based proof of concepts for select government use cases in order to gain an understanding of the potential benefits afforded by this emerging technology, the announcement continues. “New and previously unforeseen applications of blockchain in the government are expected to enhance transparency, traceability, and trust in e-governance systems.”


Among the sectors blockchain technology would aid the government, for example in providing trust and immutability, are health, finance, and agriculture. The announcement adds: The Centre of Excellence will facilitate the government departments in building proof of concepts for use of blockchain technology in different dimensions of governance leading to large scale deployment of some such applications.


According to the Ministry of Electronics & Information Technology’s annual report form 2018-19, centers of excellence are being set up across India. The goal is to “ensure India builds leadership in the emerging sectors,” including in areas of internet of things, blockchain, fintech, and artificial intelligence, the report details. The centers are set up in a collaborative approach by Software Technology Parks of India (STPI), a society established by Meity with the aim to encourage, promote, and boost the export of Indian software. Illustration of Meity’s Distributed Centre of Excellence for Blockchain Technology. Source: Meity


Furthermore, the Centre for Development of Advanced Computing (C-DAC), Meity’s autonomous scientific society, has initiated efforts towards the establishment of a Distributed Centre of Excellence for Blockchain Technology. Under this initiative, a blockchain technology-based property registration management system has been designed and implemented, the ministry explained. Efforts have also been made towards integrating blockchain technology with existing applications. C-DAC has signed a memorandum of understanding with the Telangana state government to explore the use of blockchain technology.


The Ministry of Commerce and Industry has also been involved in a notable blockchain project. It announced a blockchain-based coffee e-marketplace in March 2019, citing that India is the only country in the world where all coffee is grown under shade, handpicked and sun dried. The marketplace is a pilot project to help integrate India’s farmers with markets in a transparent manner to realize a fair price for the coffee producer.


What do you think of the Indian government’s blockchain efforts? Let us know in the comments section below.


Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock and the government of India.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. Share this story: Tags in this story bangalore, Bengaluru, Blockchain, center of excellence, crypto, crypto assets, Cryptocurrency, Digital Currency, inauguration, India, indian government, Indian state, Karnataka, meity, Virtual Currency Related How Is Bitcoin Cash Different From Bitcoin Core? BLOCKCHAIN | Graham Smith


The crypto space can be hard to break into for those unfamiliar with the jargon, lingo, and foundational knowledge taken… read more. Blockchain Tops the List of Most In-Demand Tech Skills for 2020 BLOCKCHAIN | Avi Mizrahi


If you are planning to start a new career this year, or just improve your value in the jobs market,… read more. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Please enable JavaScript to view the comments powered by Disqus.

News Feed

Report: Billionaire Says Britain May Be Forced to Seek Bailout From IMF if It Does Not Renegotiate Brexit Deal
Report: Billionaire Says Britain May Be Forced to Seek Bailout From IMF if It Does Not Renegotiate Brexit Deal British billionaire investor Guy Hands has reckoned that Britain will
Ezra Reguerra40 minutes agoHalf of stolen NFTs are sold within 3 hours: PeckShieldPeckShield reports that $2.27 million of NFTs were stolen in June, recording the lowest monthly figure for stolen NFTs in 2023.636 Total v
Martin Young4 hours ago‘Evidence is piling up’ for a new crypto bull run: Delphi Digital co-founderDelphi Digital co-founder Kevin Kelly believes a recent change in a key U.S. manufacturing business index could be on
Cleanspark Buys US Bitcoin Miner for $19.4 Million, Plans to Quadruple Mining Capacity
Cleanspark Buys US Bitcoin Miner for $19.4 Million, Plans to Quadruple Mining Capacity Cleanspark Inc., a Nevada-based corporation, said Thursday that it is acqu
Thailand’s Oldest Lender Delays Bitkub Exchange Acquisition Amid Tighter Crypto Rules
Thailand’s Oldest Lender Delays Bitkub Exchange Acquisition Amid Tighter Crypto Rules The company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire
Visa and Mastercard: A boon for wallet holders, a threat to crypto exchanges?
Andrew Singer8 hours agoVisa and Mastercard: A boon for wallet holders, a threat to crypto exchanges?Crypto debit cards aren’t new. But Visa supports 40 cryptocurrencies across an enormous network. “That’s a big de
Southeast Asia’s Largest Bank DBS Plans to Launch a Cryptocurrency Exchange
Southeast Asia"s Largest Bank DBS Plans to Launch a Cryptocurrency Exchange The Singaporean multinational banking and financial services corporation DBS publishe
Ethereum Classic Hashrate Slides 46% Since The Merge, PoW ETH Forks Gather Double-Digit Gains
Ethereum Classic Hashrate Slides 46% Since The Merge, PoW ETH Forks Gather Double-Digit Gains The day of The Merge, Ethereum Classic’s hashrate soared to new highs tapping 3
EU MiCA stablecoin regulations come into effect: Law Decoded
David Attlee4 hours agoEU MiCA stablecoin regulations come into effect: Law DecodedNoncompliant stablecoin issuers could potentially exit the EU market entirely, with a shift toward euro-backed stablecoins as demand pick
Savannah Fortis14 hours agoEU tech coalition warns of over-regulating AI before EU AI Act finalizationA group of 33 businesses and tech companies have signed a joint letter to EU regulators urging them not to over-regula
Turner Wright2 hours agoTrademark attorney predicts legal fights ahead with Twitter’s rebrand to XAccording to Josh Gerben, the social media platform could be embroiled in lawsuits over its “X” branding for years,
South African Banking Regulator: ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’
South African Banking Regulator: "De-risking" Crypto Firms Potentially Creates "Opacity in Financial Conduct" According to the latest guidance note issued by the South African bank