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India has released a five-year roadmap for the implementation of blockchain technology in the country. It was called the “National Blockchain Strategy”. It aims to promote the clustered blockchain across various sectors of the economy and is intended to foster closer collaboration between the private sector and government.
The 52-page document, recently released by the Indian Ministry of Electronics and Information Technology (MeitY), is an updated version of a regulation released earlier this year. It outlines India’s ambition to create a national blockchain platform that the ministry believes will bring huge benefits to 44 sectors of the economy.
In the document, the ministry says it is working to create a national blockchain platform, arguing that “a geographically dispersed, nationwide shared infrastructure with nodes across India” is needed for the country to take full advantage of blockchain technology. The government intends to use this national infrastructure to provide blockchain-as-a-service (BaaS) services.
The ministry has identified 44 sectors that it believes will benefit greatly from blockchain integration. The focus is on e-government, with some of its applications covering the national identity system known as Aadhaar, eSign Public Key Infrastructure and Citizen Cloud Hosting Digilocker.
Over time, the use of the blockchain will go beyond e-government, the document says: “there will then be a transition to include various use cases outside of e-government, and its structure will be open for use by everyone.”
Sectors in which blockchain technology is planned to be introduced are supply chain management, document verification, electronic notary services, insurance, land registration, education, smart cities and healthcare.
The blockchain roadmap was extensive and had no deadlines. However, the country is already actively moving towards digitalization; it may have an advantage over its colleagues. Since the roadmap is quite extensive and covers several sectors, it will attract many stakeholders and move the process forward.
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