Second-biggest State in India Tests Regulatory Sandbox for Blockchain Application Across Industries

By Tracy Hannes | August 19, 2019
Cashaa: Blockchain Summit Concludes at IIM Lucknow, Support Received From Government to Make India Blockchain Capital

The Indian state of Maharashtra authorities are reportedly planning to introduced a regulatory sandbox to test blockchain-based solutions for numerous applications. 

Reported by DNA India on August 19, the government specifically looks to employ blockchain tech to enhance the fields of supply chains, agricultural marketing, vehicle registration and document management. 

The Maharashtra Information Technology Directorate will be in charge of the project. Indian officials have also designated 100 million rupees (~$1.4 million), particularly to further the growth of blockchain in the nation during 2019-20. 40 million ($560,000) have also been authorized by the implementation committee.

“The state government is adopting a cutting edge technology to help enhance efficiency in the governance. Already the government has completed its first blockchain pilot in the fields of health, supply chain, documents and SSC certificates. A detailed report has been prepared to go in for extensive use of blockchain technology in various government departments. A regulatory sandbox, which will be a common framework for adopting blockchain technology, will be prepared in next five to six months.”

The state of Maharashtra, which has Indian capital Mumbai, currently has more than 114 million citizen, deeming it the second biggest state throughout the country. Numerous India-based crypto firms have implemented blockchain tech in their systems to improve the operations. the Reserve Bank of India is reportedly designing its own blockchain platform for banking in its R&D branch.

Tags: , ,

Related Articles