Govt to Hand Out IIT Degrees Using Blockchain Technology in 2019: Report
Not just educational degrees, the blockchain technology might even find its way in maintenance of land records. However, it is still among the far-fetched ideas that are still being mulled over.
Image for representation only.
New Delhi: Not indulging in cryptocurrency, but the Indian government is quite keen on adopting the blockchain technology and use it in digital certification of education degrees. The government plans to first put to use the technology in a trial project at IIT-Bombay starting 2019.
According to report by Factor Daily, these trials will be the first implementation of IndiaChain, the blockchain technology for handing out degrees in India, will be implemented at the Indian Institute of Technology (IIT) and some colleges in of Delhi University.
The report further states that the project is being developed under the central government think tank, Niti Aayog.
Not just educational degrees, the technology might also find its way in maintenance of land records. However, it is one of the far-fetched ideas that are still being mulled over.
During his Budget speech on February 1, Finance Minister Arun Jaitley had specified in clear terms that although the government is against cryptocurrency, it is willing to adopt the blockchain technology to develop different solutions.
Jaitley had said, “The government will take all measures to eliminate the use of crypto-assets in financing illegitimate activities. The government will also explore the use of blockchain technology for ushering in digital economy.”
Blockchain is a continuously growing digital ledger that tracks and keeps a record of digital assets.
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