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Blockhain Industry Questions MEITY Strategy On Blockchain

February 18, 2021
Two industry groups representing the domestic Blockchain industry said that the government’s intention to create a national framework for the technology may have the opposite effects, in terms of encouraging innovation and decentralisation. In its response to the National Strategy for Blockchain, published by the Ministry of Electronics and Information Technology a few weeks ago, the Government Blockchain Association and Global Impact Fintech Foundation said government participation may be too early.
In its report, MEITY recommended that the government create a National Level Blockchain Framework (NLBF) to encourage the adoption of blockchain technology across a variety of public use-cases, and that various public projects should be brought on to a blockchain platform. It also said that the create a legal and regulatory framework for the adoption of blockchain technology in various public and private areas. However, a national policy and national agency ....

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MEITY recommends using blockchain for public projects, creation of National Blockchain Framework

February 4, 2021
The Ministry of Electronics and Information Technology (MEITY) has recommended the government create a National Level Blockchain Framework (NLBF) to encourage the adoption of blockchain technology across a variety of public use-cases. The ministry’s draft National Strategy on Blockchain proposes that various public projects can be brought on to a blockchain platform for digital identities, land records and official documents and healthcare, among other areas.
The report recommends that the government create a legal and regulatory framework for the adoption of blockchain technology in various public and private areas, while at the same time build capacities on blockchain research and innovation to compete with other nations. At present, there are various efforts by government bodies and the private sector to use blockchain technology. But in order to effectively scale the technology, there is a need for scaling deployments, explore various domains, emerge ....

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