National Blockchain Strategy
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.
What is the National Blockchain Strategy?
- 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.
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.
National Blockchain Strategy on Crypto currency
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.
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Month: Current Affairs - December, 2021