June 6, 2023

India has developed a national blockchain development strategy

India has developed a national blockchain development strategy

The analytical center of the Indian government has prepared a draft national blockchain development strategy, as one of the directions for improving the country's economy.

The document consists of two parts and in factis a description of a long-term plan to support and stimulate the implementation of distributed registry technologies in various fields. It is intended not only for officials, but also for business leaders, as well as ordinary citizens.

The first part describes the basic concepts of the blockchain, support systems trust and security, economic potentialsmart contracts and technology in general, ease of use and possible applications. The second part should be published in the coming weeks and it will present more practical recommendations on the use of blockchain in India.

According to government analyticalCenter, technology features will allow you to change the paradigm of the national economy and rethink the participation of state bodies in it. For example, to abolish external control in some areas, for example, real estate or land transactions.

Analysts have already launched several pilotprojects using the blockchain to track the supply chain of medicines, control the accrual and payment of subsidies for fertilizers, verify certificates of education and transfer ownership of land.

Earlier, we reported that Israel also intends to develop the infrastructure based on the blockchain, but first wants to audit the existing platforms.