Block chains : How can they evolve India

The blockchain is a digital, decentralized, public ledger of all events(transactions,entries etc). It has no central authority so it works on reaching consensus among the nodes(members). The blockchains are very secure and almost impossible to be hacked. Here in this article we without going into technical depth we will be looking at the various application of this technology to help the vast and developing population of India.

The aadhaar data is the world’s largest ID database, containing extremely sensitive information. But data breach due to lack of security is very common. The blockchains could be the best solutions as they have highly secure SHA256 encryption, making them tamperproof also they use a public and private key, which can replace the OTP mechanism we use.

Around 17.3% GDP of India relies on agricultural produce. Still, many farmers get struck in debt traps. This problem arises due to small land under a farmer so less output is produced also unavailability of machines. Blockchains can be a problem saver as it can manage the land records by making unalterable digital records, as well as it can make a pool of small farmers by converging their land and handling their data of profit.

Being the world’s largest democracy, India undergoes some or the other elections throughout the year. The cases of fake voting, are very high. Voting system with blockchain is in the very heart of it, as the entire process is based on consensus making through a vote. The votes can be secured, and more transparent and the entire process could be completed at users device.

The government has to deal with the worlds second largest population, and with the launch of the new scheme, the load on regulating authorities increases to many folds. The blockchain can be used to link the banking system with the authentic people in need. In this way, the entire process can be automated and a heavy amount of corruption can be decreased.

Being said all that it will not be wrong to say
” Blockchains are the answer, Now tell me the Question?”



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thRadical: Block chains : How can they evolve India
Block chains : How can they evolve India
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