The Ministry of Electronics and Information Technology (MeitY) has released a Draft National Blockchain Strategy for public consultation. Feedback may be provided directly through the MyGov portal before 16 February 2021.
NASSCOM has been working closely with MeitY towards shaping the Blockchain Strategy. To continue its engagement, NASSCOM would like to invite comments from the industry on the National Blockchain Strategy document’s contents.
A few highlights of the strategy document include:
- Recommends creating a National Level Blockchain Framework (NLBF) and associated infrastructure, enabling participation from all stakeholders (both Government and Private).
- Recommends creating a Multi-Institutional Centre of Excellence (CoE) to aid in the formulation and implementation of the NLBF.
- Maintains a focus on R&D and standardization of technical aspects required to create large, robust, and scalable blockchain infrastructure and Distributed Applications (dApps).
- Recommends the deployment of regulatory sandboxes to develop regulatory frameworks surrounding sector-specific blockchains and applications.
- Identifies existing issues relating to data protection and data security that are associated with the deployment of blockchain/ distributed ledger technology (DLT).