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CSR Research Foundation 4th National Summit 2021 ``Blockchain- What it offers``
New Delhi, Sept., 10: The Union Government on Friday said it is focusing on the use of Block Chain technology in the governance as it helps prevent financial and other frauds and creates a centralised database and also ensures cyber security.
In his keynote address, the Minister of State for Education Subhash Sarkar said the Blockchain technology can be called a network of networks as many key industries have already started using this new technology. Sarkar said the Blockchain technology is very useful in ease of doing business and is also used for maintaining historical and land records. The Minister said that the new technology is the biggest innovation in the field of technology as it eases our day to day life. He said that Block Chain technology helps maintain records digitally. The Minister while maintaining the endorsement of the Prime Minister Narendra Modi of the Block Chain technology said we should make a balance of evolution with the technology.

Earlier, the Minister of Economic Affairs of the Royal government of Bhutan , Lyonpo, Loknath Sharma released a book, which was authored by Ajay S Singh in a ceremony in Thimpu. In his address the Bhutanese Minister said that the Blockchain technology is certainly going to play a bigger role in the future in almost all walks of life as the new technology is very useful in maintaining records. He said that the Blockchain promotes new technology that leads to good governance adding that the new technology has the potential of a transparent administration. The minister said that the new technology would boost trade and strengthen economies of neighbouring countries.

In his theme address, the senior BJP leader Gopal Krishna Aggarwal while praising the technology said that the BlockChain is a smart contract implementation adding that by 2030 thirty percent of global customers based on KYC would be using this new technology. He said that MSME is adopting this new technology. He said that the government of India is prepared to work with the new technology and the Niti Ayog has prepared a paper in this connection.

Outlining the details of the book, its author Dr. Ajay S Singh said that Block Chain is basically intended to cover basic tenants of new technology for beginners adding that the Bitcoin is the by-product of Blockchain technology that has captured the attention world-wide. He said the book is written to popularize this new technology. He said that in India many banks are coming forward to adopt the new technology.

Pankaj Som Chaturvedi, the co-author of the book in his address said that the book will ignite interest among beginners as the Blockchain technology is very useful for accountancy as it provides a centralized database. Chaturvedi said that the Blockchain technology actually reduces the amount of technology deployment in the governance.

CSR Research Foundation Team
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