‘Centre of Excellence in Blockchain Technology’

• The National Informatics Centre (NIC) has set up the Centre of Excellence (CoE) in Blockchain Technology in Bengaluru, Karnataka, aiming to provide Blockchain as a service and allowing all stakeholders to benefit from shared learning, experiences and resources.

About the Centre of Excellence:

• The Centre of Excellence aims to facilitate the Government Departments in building proof of concepts for use of Blockchain technology in different dimensions of governance leading to large scale deployment of some such applications.
• The CoE has developed Blockchain-based Proof of Concepts (PoCs) for select government use cases to understand the potential benefits provided by this emerging technology.
• It will provide world-class blockchain services to the government by identifying and sharing suitable data for the use of government departments.     
• New and previously unforeseen applications of Blockchain in the Government are expected to enhance transparency, traceability and trust in e-governance systems.
• With National Informatics Centre (NIC) providing a robust and agile infrastructure, the CoE shall also provide Blockchain as a Service (BaaS) for efficient hosting of Blockchain network.
• Apart from CoE in Bengaluru, the govt is also planning to launch another CoE for blockchain technology in Gurugram, Haryana also.
  

Understanding blockchain:

• A blockchain is, in the simplest of terms, a time-stamped series of immutable records of data that is managed by a cluster of computers not owned by any single entity.
• Each digital record or transaction in the thread is called a block (hence the name), and it allows either an open or controlled set of users to participate in the electronic ledger. Each block is linked to a specific participant.
• The following features make the revolutionary technology of blockchain stand out:
  • Decentralised
  • Peer-to-Peer Network
  • Immutable
  • Tamper-Proof

Significance of the initiative:

• Knowledge enrichment: The Centre of Excellence (CoE) will share its blockchain-based proof of concepts with selected government entities. This way, it will help different wings of the government to understand the potential of the technology.
• Better hosting of networks: With the enhanced infrastructure provided by NIC, the CoE will additionally offer Blockchain-as-a-Service (BaaS) for better hosting of Blockchain network.
• Smooth implementation of policies: Blockchain technology is upcoming & niche technology and adoption of the same in sectors such as health, finance, agriculture and various other sectors would aid the government in implementing various programmes and provide trust and immutability to the assets.
• Transparency & trust: The applications of blockchain in the public sector will increase transparency, traceability and trust in e-governance systems.
• Effective e-governance service: The Centre would help to bring a revolutionary change in the lives of the people by delivering e-governance services effectively through the data-centric model.