New Delhi, February 12, 2021; Showing strong intent to embrace Blockchain Technology, Ministry of Electronics and Informational Technology, GoI has released the Strategy for National Level Blockchain Framework. It emphasises the need to create infrastructure supporting BCT, foster R&D, develop faster, secure & efficient delivery systems, spread awareness, and work in tandem to capacity building to harness the Distributed Ledger Technology (DLT).
The strategy mentions the architectural setup that it aims to create the ecosystem, it could be one of the four architectures, namely, public and permissionless, public but with permissions, private and permission-less, and private with permissions. furthermore, the documents provide insights into the technical aspects that can be employed to transform India through the use of Blockchain. The newly released government document dives deep in to e-governance and explores its potential use cases. Property Record Management, Digital Certificates Management, Pharmaceutical supply chain, e-Notary Service, Farm Insurance, Identity management, eVoting, Electronic Health Record Management, Digital Evidence Management System, Public Service Delivery, IoT Device Management, and Security, Microfinance for Self-Help Groups are only a few to mention from the identified sectors. The government plans to build a National Blockchain API to integrate all national level services to Blockchain.
Minister of State for Finance Shri. Anurag Thakur recently mentioned "the government will explore the use of Blockchain Technology to put in place a digital economy." The positive connotation from the Ministry to integrate DLT based solutions for the National Interest into sectors like healthcare, cybersecurity, fintech, governance, logistics, hospitality, media, legal, energy, smart cities, etc. opens a new opportunity for industries and startups who are already working on for long.
Blockcube is a technology partner for Software Technology Park of India (STPI) an autonomous body under MeitY under Govt. of India. We anticipated that the Government will identify all the dimensions of national interest before deciding to bring a policy on DLT said Mr. Arjun Mishra CEO, Blockcube Technology Limited. Blockcube is also providing secure blockchain-based solutions to Haryana Government’s CSR Authority. Working on the zenith level has enabled us to understand how and what more can be developed using blockchain to enhance transparency, immutability, and efficiency aspects as highlighted in the National Blockchain Framework, he added.
Blockcube Technology Limited, a blockchain-based tech startup offers consultancy services and develops Proof of Concept for industries, enterprises, and governments who want to explore & invest in designing business operations as per new technological needs and trends.
There is a gulf when we compare to the adoption of blockchain-based solutions in India and abroad, the new policy advancements in favour of adopting blockchain are welcoming and will dawn a new era of Transparent, Accountable Digital India pointed Mr. Arjun. The move will give a fillip to startups like us, he added.
World Economic Forum survey projected Blockchain will reach a “Tipping Point” by 2023. Mckinsey in one of its reports on economic potential of blockchain by industry sectors identified Public Sector to utilize it the most. Data from the Office of Principal Scientific Advisor to the Government of India, fifty percent of Indian States are involved in Blockchain-related activities.
Speaking at the India Ideas Summit by India-U.S Business Council last year PM Modi hinted towards investment in ‘frontier technologies’ like Blockchain.
The paper also talks about the inherent technological, legal, security, and privacy challenges and how they can be mitigated with opportunities and strengths. It gives a broad roadmap for adoption of Blockchain. Gartner (2017) forecasted that worldwide by 2025, Blockchain would add a business value that will grow to over $176 billion. This would increase further to $3.1 trillion by 2030. MIT Sloan Management Review in one of its latest articles about Blockchain for Business analysed the challenges in adopting blockchain; the article augmented that doubts about blockchain are fading. A Deloitte survey wraps that more than half of senior executives place Blockchain among their top five strategic priorities.
The so called disruptive technology is all set to reconcile the loose ends to advent a new era of transparency and accountability in the new Digital India.
About Blockcube Technology Ltd.
Blockcube is a New York based advanced technology research and consulting firm. Blockcube has been working aggressively in India from its’ head office in Delhi for the past 6 years. With the aim to make the digital transformation and operations secure Blockcube provides trusted Blockchain and AI powered solutions to Governments, Public Sector Undertakings and Corporates across industries and verticals globally. As of now Blockcube is catering to industries like healthcare, Telecom, e-governance, finance, defense, logistics, media and more.
Blockcube is a technology partner of Software Technology Park of India (STPI) an autonomous body under MeitY (GoI) and Haryana Government’s CSR Authority, providing them blockchain-based solutions to fulfill their high aiming sustainable and inclusive goals. Furthermore, its’ wide range of products catering to various verticals across industries has been quite instrumental in their exponential business growth of its clients. The technology breakthrough achieved by Blockcube in Cybersecurity, Blockchain & Artificial Intelligence and business process management applications is a story best entailed with success of its current clientele and trust of its strategic partners.
At the core of this inspiring & reverberating story stand the founders; Mr. Arjun Mishra (CEO) and Mr. Dharamveer Singh (COO). Arjun is a technology driven visionary captain of the ship and Dharamveer is the chief mate who runs the ship. Both of them are drop-outs from NIT Rourkela and have bootstrapped the firm till now. Their astounding strategizing coupled with the excellent implementation by the dedicated team has made projects in hand easy to deliver. Since 2017, Blockcube have delivered 100+ projects catering to various verticals like healthcare, messaging security, supply chain, ERP, Certification, notary, etc. In short span of time Blockcube as a startup have made global footprints visible in UAE, Japan, Canada and Argentina. We are a family of 150 and counting across the seas . For more information, visit https://blockcube.co/
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