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The Maharashtra government is toying with the idea of using blockchain technology for data security in various departments like revenue, police, land records and in maintaining database about student scholarships and farm loan waiver scheme.
He was speaking to reporters while announcing the first Maharashtra Technology Summit to be held on January 17 in collaboration with Federation of Indian Chamber of Commerce and Industry (FICCI).
Mumbai is the financial capital of the country, but Bengaluru and Hyderabad have taken the lead in software technology, he said that the government now wants to make Mumbai the 'Fintech' capital of the country.
"The government will soon come out with its Financial Technology policy. The use of the new technology will help in ensuring greater trust, transparency and efficiency in the governance," Srinivasan said.
"It is now becoming the backbone of a new type of internet," he added.
The information stored on blockchain is continually reconciled and it is not stored on any single central server.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)