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cryptocurrency January 4, 2018

A government think tank in India is exploring the benefits of blockchain technology.

It was reported on January 4, 2018, that the government of India’s policy think tank NITI Aayog is seeking to develop a proof of concept regarding the application of blockchain technology to various sectors.

Addressing this, a government official told local press that blockchain technology “is a safe system for document verification and hence can be adopted in sectors like education, health and agriculture.” Formerly the Planning Commission, the Aayog was formed three years ago and has sought to keep pace with technological advancement and helps direct regional energy policies.

The think tank now plans to take advantage of the ability of a blockchain system to provide more affordable and efficient means of auditing and transaction verification.

Previously, the Aayog had held a hackathon that spurred the ongoing development of blockchain-based systems across a wide range of applications.

Indian officials have gone back and forth over the legalities of cryptocurrencies, but the general consensus toward blockchain technology would seem optimistic, as evidenced by efforts in both Telangana and Andhra Pradesh to explore and integrate blockchain platforms.

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.

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Source: ETHNews