Adoption: Blockchain Technology in India

4 months ago

India is a leader among emerging economies in the field of Blockchain, according to Kavita Gupta, founder of ConsenSys Ventures, the, a blockchain software company. Gupta said that her company is working on the implementation of a letterhead project with NITI Aayog, the Indian government’s policy think tank ( NITI stands for the National Institute for the transformation of India ) and has signed a Memorandum of Understanding with the Andhra Pradesh government for various purposes.

In 2018, about 10 Blockchain workshops and seminars devoted to Sawtooth and Hyperledger fabrics were awarded 1st in 2018 at the Prestigious BTS blockchain, conducted by Karnataka Government, for demonstrating the use of blockchain in Identity Management. The GBA Blockchain keychain project is designed to provide state and local authorities with identity management solutions.

In fact, at the International Business Congress, which was Asia’s largest blockchain event, the Telangana state government has announced its intention to build a ‘block chain quarter’ that will be one of the world’s largest ecosystems. It is also necessary to mention the adoption of blockchain in the Indian services sectors, such as banking, finance, retail, supply chain and insurance, which can potentially add more USD 5 billion to the Indian economy.

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