NITI Aayog and Proffer, a Blockchain startup founded by graduates of MIT and Harvard, are jointly organising a four-day Blockchain summit and hackathon at IIT here from tomorrow.
Blockchain is a technology which forms the base for making crypto currencies like bitcoins.
The objective of the four-day 'Blockchain summit' is to "explore how blockchain architectures can enable a new digital infrastructure for India, improving efficiency, transparency, privacy, and cost across all sectors," the Aayog said in a statement.
Over 1,500 students from IITs, MIT, Harvard, Berkeley, and top engineering institutions around the world will be participating in the event.
Microsoft, IBM, Accel, Coinbase, and Amazon AWS are sponsoring USD 17,000 in prizes to reward the top five blockchain-based applications addressing problems in government/enterprise infrastructure, finance, energy markets, supply chain, decentralised Aadhar identities and information exchange, it added.
Further, the statement said NITI Aayog CEO Amitabh Kant will share his perspective on how blockchain technology can transform the country's economy.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)