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Business EconomyPosted at: Jan 17 2018 5:28PM


Initiate policy decision for Blockchain Technology to dispense public services: PHD

New Delhi, Jan 17 (UNI) PHD Chamber of Commerce and Industry has proposed to the government to immediately launch an intensive exercise for initiating a policy documentation on adoption of Blockchain Technology through which government’s services could be dispensed with to all masses in public domain to make the digitisation a great success.
The aforesaid recommendations were mooted at a Seminar on “The Future of Blockchain Technology : Advantages to the Indian Industry” under aegis of PHD Chamber of Commerce and Industry.
According to a statement issued by the Chamber, The government’s services that can be effectively and widely disseminated through policy decision in favour of Blockchain Technology comprise all financial and banking services and other services such as airlines, cargo, railways, telecom, healthcare, land records and property transactions and the like as the Blockchain Technology cannot be tampered with and currently in wider uses in countries such as UK, Japan, Singapore, China and USA and the like.
On the occasion, Anil Khaitan, President, PHD Chamber of Commerce and Industry reminded that the NITI Aayog has already conducted a fruitful hackathon for adoption and applications of Blockchain Technology given its successful uses and applications in some of the economies of scale and therefore, a wider and a broader view needs to be taken for adoption of this technology in the public interest for better and faster dispensation of all government’s services for the use of larger masses.
On the issue, Prof Shivendu was of the view that the better it would be for the government of India to take a policy decision on Blockchain Technology and put all its services on the proposed Blockchain Technology as it is competitive, cost effective and cheaper, besides being trustworthy as the transactions effected through this technology can neither be changed nor altered and are recorded as also are immutable.
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