You are here: Home » PTI Stories » National » News
Business Standard

Maha govt eyes making use of blockchain technology

Press Trust of India  |  Mumbai 

The is toying with the idea of using technology for data security in various departments like revenue, police, land records and in maintaining about student scholarships and farm scheme.

The technology, which is still at a nascent stage, allows storage and distribution of information in the format.

Information Technology, S V R Srinivasan said that the new technology platform can help the in data security in various departments.

He was speaking to reporters while announcing the first Technology Summit to be held on January 17 in collaboration with Federation of Indian Chamber of Commerce and Industry (FICCI).

is the financial capital of the country, but and have taken the lead in software technology, he said that the now wants to make 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.

"The technology can be used in departments like to store land records, in police to and records of criminals, land extracts and in other sectors like health, education.

Giving details of the technology, a senior from the state secretariat said that in this system, information stored and distributed cannot be copied, hacked or tampered with.

"It is now becoming the backbone of a new type of internet," he added.

The said that the technology is an incorruptible ledger for economic transactions that can be programmed to record financial transactions and anything of value.

The information stored on blockchain is continually reconciled and it is not stored on any single central server.

"That makes hacking of the much difficult as tampering the data base means hacking into a chain of data base, which is a difficult thing to do," the said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 23:10 IST