INDIAN policy thinks: tank develops blockchain, a proof-of-concept

NITI Aayog, a policy think tank of the government of India, is exploring the use of blockchain. The agency is developing a proof-of-concept to leverage technology in key sectors such as education, health and agriculture, a senior government official told the Economic Times. “It is a safe system for document verification and hence can be adopted in sectors like education, health and agriculture,” the person told the news outlet. NITI Aayog had recently organized a blockchain hackathon following which it is exploring its widespread usage across sectors, the official said.

The inaugural international blockchain hackathon took place from November 10th to 13th, 2017 at the Indian Institute of Technology (IIT) Delhi. AgroChain, a blockchain-based marketplace that helps farmers and consumers through cooperative farming, was awarded the first prize at the competition.The marketplace allows farmers to list their potential crops and the expected yield on their farms on the distributed public ledger. Consumers can view the details and check for the farmer’s credibility based on the previous cultivation and supply. This creates a transparent and tamper-proof digital market platform for farm products. A rating mechanism will be added to build the credibility of farmers and consumers based on the previous experiences in the agro market.