<p>A Niti Aayog discussion paper has made a case for using blockchain technology to resolve business and governance process inefficiencies.</p>.<p>The draft discussion paper titled 'Blockchain: The India Strategy' suggested that regulatory infrastructure should be put in place for evolving a vibrant blockchain ecosystem.</p>.<p>It also pitched for creation of a National infrastructure for deployment of blockchain solutions with in-built fabric, identity platform and incentive platform.</p>.<p>The paper also suggested that the government should adopt blockchain solutions for procurement process.</p>.<p>Blockchains can broadly be defined as a new type of network infrastructure (a way to organize how information and value moves around on the internet) that create 'trust' in networks by introducing distributed verifiability, auditability, and consensus.</p>.<p>Blockchain is seen as a technology with the potential to transform almost all industries and economies.</p>.<p>The World Economic Forum (WEF) anticipates that 10 per cent of the global GDP will be stored on blockchain by 2025 and lists blockchain as one of 7 technologies that are anticipated to revolutionize various aspects of our lives. </p>
<p>A Niti Aayog discussion paper has made a case for using blockchain technology to resolve business and governance process inefficiencies.</p>.<p>The draft discussion paper titled 'Blockchain: The India Strategy' suggested that regulatory infrastructure should be put in place for evolving a vibrant blockchain ecosystem.</p>.<p>It also pitched for creation of a National infrastructure for deployment of blockchain solutions with in-built fabric, identity platform and incentive platform.</p>.<p>The paper also suggested that the government should adopt blockchain solutions for procurement process.</p>.<p>Blockchains can broadly be defined as a new type of network infrastructure (a way to organize how information and value moves around on the internet) that create 'trust' in networks by introducing distributed verifiability, auditability, and consensus.</p>.<p>Blockchain is seen as a technology with the potential to transform almost all industries and economies.</p>.<p>The World Economic Forum (WEF) anticipates that 10 per cent of the global GDP will be stored on blockchain by 2025 and lists blockchain as one of 7 technologies that are anticipated to revolutionize various aspects of our lives. </p>