publive-image

Blockchain is the catchphrase for new projects. Currently, in India, a lot of public and government-supported organisations are giving stress on its implementation. Most of the public sector firms with the banking and financial sectors are driving blockchain acceptance in the country, a report by IT industry body Nasscom said Tuesday. According to Nasscom, “The public sector has driven blockchain-based projects with nearly half the Indian states involved to address different elements of citizen service delivery.”

It said the state governments are also guaranteeing a progressive way to convey beneficial support for start-ups and specialty service providers to partake in these projects.  The report says that more than 40 blockchain projects are now being accomplished by public sector companies out of which 92 percent projects in the pilot stage and 8 percent in the production stage.

The industry body said, “Further, enterprises across all key industries in India are also identifying different applications of the blockchain. The BFSI (banking, financial services, and insurance) sector has seen the highest adoption, but other industries such as healthcare, retail and logistics are also accelerating rapidly.”

The report also said that start-ups are engaged in more than 50 percent of the blockchain projects across different industries in the country. Sangeeta Gupta, the senior vice-president, Nasscom, said, “Even as the demand for blockchain-based talent is growing at 40 percent each quarter, it is time to reiterate the importance of a skilled workforce. It is imperative to prepare our workforce through training programmes and skill initiatives in this field. So that service providers in the country don’t fall behind the global standards.”