India and Colombia signed a Memorandum of Understanding (MoU) on Cooperation in the field of Sharing Successful Digital Solutions

• It is a set of Application Programming Interface (APIs) that allows governments, businesses, startups and developers to utilise a unique digital Infrastructure.
• India Stack consists of three layers of open APIs: identity, payments, and data.
• Although the name of this project bears the word India, the vision of India Stack is not limited to one country.
• It can be applied to any nation, be it a developed one or an emerging one.

Also Read: International: Weekly Current Affairs Bitbank (January 15 to 21, 2024): Which country is connected to the Indian Navy through the inaugural 'Ex-Ayutthaya' naval exercise?

The four distinct technology layers provided are

1. Presenceless layer: Where a universal biometric digital identity allows people to participate in any service from anywhere in the country.
2. Paperless layer: Where digital records move with an individual's digital identity, eliminating the need for massive amount of paper collection and storage.
3. Cashless layer: Where a single interface to all the country's bank accounts and wallets to democratize payments.
4. Consent layer: Which allows data to move freely and securely to democratize the market for data?

• Some of the APIs that are a central part of India Stack: Aadhaar Proof, Aadhaar e-KYC, e-Sign, Digital Locker, Unified Payment Interface.
   

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Published date : 19 Feb 2024 06:19PM