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National Blockchain Strategy announced: Key Features

The National Blockchain Strategy was recently proposed by the Ministry of Electronics and IT. The strategy has adopted multi – institutional approach. It involves NIC (National Informatics Centre), C – DAC (Centre for Development of Advanced Computing) and NICSI (National Informatics Centre services Inc) for offering blockchain as service.
National Blockchain Strategy announced: Key Features
National Blockchain Strategy announced: Key Features

It aims to provide trusted digital platform for providing e – governance services using blockchain technology.

It involves human resource development, collaboration, regulatory framework, technology stack, standards development.
It seeks the union government to develop state – specific block chain applications.

The National Blockchain Strategy has kept crypto currency out of the ambit of its framework. However, the Government of India had listed a bill called “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021”. The bill provides a framework for the creation of official digital currency. Also, the RBI is to create digital money.

Key Features

  • The strategy will explore the possibility of use of technology for medical supplies and vaccines.
  • It will improve transparency and efficiency in governance.
  • NITI Aayog has recognised Blockchain technology as a promising technology. According to NITI Aayog, the technology has notable features such as accountability and decentralisation.
Published date : 06 Dec 2021 05:50PM

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