Blockchain and Web 3.0 innovations will propel the digital asset economy’s value from $5 billion in 2021 to $262 billion over an 11-year period, resulting in a $1.1 trillion contribution to India’s GDP, as per a report by digital asset exchange Cross Tower and US-India Strategic Par Partnership Forum. Blockchain is a distributed, decentralised, immutable ledger secured by cryptographic hash algorithms. The technology if used and deployed strategically can aid in solving many issues both economic and social. In a conversation with FE Digital Currency Subhash Chandra Garg, former finance and economic affair secretary talks about how blockchain can be a game changer. (Edited Excerpts)
How can blockchain as a technology be used by the government to solve issues in e-governance?
Blockchain is an evolving technology. Its advantage is that it is based on decentralised architecture. The biggest potential comes from the permitted architecture where it is not in the control of anyone. The...
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