Blockchain is a Distributed Ledger Technology i.e., a shared irreversible ledger that facilitates the process of recording transactions and tracking assets across a business network.
- Google Doc can be taken as an example to understand Blockchain technology. When a Google doc is created and shared, the document is distributed instead of copied or transferred.
About Vishvasya (BaaS)
- It has been launched to offer Blockchain-as-a-Service (BaaS) with a geographically distributed infrastructure designed to support various permissioned Blockchain based applications.
- BaaS refers to third-party cloud-based infrastructure and management for companies building and operating blockchain apps.
- It is a part of the broader National Blockchain Framework provided under National Strategy on Blockchain.
- NBF is meant for effectively utilize the Blockchain technology in different domains such as health,agriculture, education, finance, etc.
- It seeks to addresses the challenges of Blockchain adoption across various stakeholders including Infrastructure Providers, Smart Contract Developers, etc.
MeitY also unveiled:
- NBFLite-Lightweight Blockchain Platform: A Blockchain sandbox platform for startups/academia for rapid prototyping of applications, carrying out research and capacity building.
- Praamaanik: A blockchain-enabled solution for verifying the origin of mobile apps.
- National Blockchain Portal
