The government of India is planning to utilize a national framework in hopes of supporting the broader distribution of Blockchain use cases.
As per the report of the India Times on November 27, the Ministry of Electronics and InformationTechnology (MeitY) announced on Wednesday that the said country’s officials are drafting a paper that discusses the potential for the distributed ledger technology (DLT) as well as the necessity for a joint infrastructure for different use cases. MeitY added that that ministry is operating on the National Level Blockchain Framework.
The Minister of State for Human Resource Development, Communications and Electronics, and IT, Sanjay Dhotre, emphasized the capability of Blockchain and its potentials.
Dhotre released a letter to discuss inquiries about Blockchain that came from the members of the Indian Parliament’s lower house.
Specifically, the question that Dhotre answered in his letter came from MP Parvesh Sahib Singh Verma, who asked whether the possible uses for Blockchain technologies were invigorated and researched by the Indian government.
As a response, the minister Dhotre said that the Ministry has identified Blockchain as one of the most imperative research areas as it has potential applications in various areas such as Banking and Finance, Governance, Cyber Security, and some other aspects.
According to the letter, the government of India has already established a project that develops and does research on Blockchain technologies and their use cases. The government named it as the Distributed Center of Excellence in Blockchain Technology.
Blockchain policies are already being developed in the Indian States
Early this year, a Blockchain policy initiative was released by the Southern Indian State of Telangana. The initiative aims to create Blockchain research and startups ecosystem. Mainly, the initiative emphases on projects that develop applications of Blockchain for monetary and banking sectors, solutions and logistics for government divisions, as well as pharmaceuticals.
The Indian state of Tamil Nadu was working on a state-level policy for Blockchain technology and artificial intelligence. The state’s AI and Blockchain policies are anticipated to create ground rules regarding how state officials can integrate the developing technologies for resolving governance issues and service delivery.