Blockchain technology has found use in a variety of industries since Bitcoin BTC first popularised it, including public administration and finance. What was formerly seen as an innovation statement for early adopters has transformed into a potent tool for modernising legacy systems, enabling improved decentralisation, transparency, and immutability. Due to worries about governance and security, as well as its close ties to the cryptocurrency ecosystem, many government agencies have been hesitant to incorporate blockchain into their paper-based operations despite its proven real-world use cases. However, a paradigm shift is taking place, particularly in emerging economies where blockchain is seen as a singular opportunity to create a society based on trust.
Despite initial resistance, India has emerged as a noteworthy example of a nation that has embraced blockchain technology. India’s local and state governments have launched a number of blockchain-related initiatives, from data management systems to platforms for the issuance of verifiable certificates. India’s thriving developer and startup environment, which has been essential in developing innovative blockchain solutions targeted to particular use cases and expediting the technology’s integration across the country, is supporting this adoption.