tl;dr
In 2024, India made significant strides in embracing blockchain technology across various sectors. The Ministry of Electronics and Information Technology launched the Vishvasya-Blockchain Technology Stack to provide Blockchain-as-a-Service (BaaS) through geographically distributed infrastructure. Ad...
India solidifies position as global leader in blockchain and Web3 adoption, showcasing significant progress across multiple sectors. India made significant strides in embracing blockchain technology in 2024. The Ministry of Electronics and Information Technology launched the Vishvasya-Blockchain Technology Stack to provide Blockchain-as-a-Service (BaaS) through geographically distributed infrastructure. Additionally, India introduced NBFLite for startups, a lightweight blockchain sandbox platform, and Praamaanik, a blockchain solution for verifying mobile app origin. The country also witnessed increased blockchain adoption in provincial governments and forged partnerships and collaborations in the blockchain space. Furthermore, India achieved a milestone by putting documents from federal organizations and provincial governments on the blockchain. These initiatives reflect India's commitment to leveraging blockchain for transparency, efficiency, and innovation across different industries. National Blockchain Framework accelerates blockchain adoption in public and private sectors, fostering transparency and efficiency. The Ministry of Electronics and Information Technology's Vishvasya-Blockchain Technology Stack is designed to enhance digital trust and improve service delivery. The National Blockchain Framework technology stack, with distributed infrastructure, core framework functionality, smart contracts and application programming interface (API) gateway, security, privacy and interoperability, and applications development offering BaaS, is hosted on geographically distributed infrastructure at NIC Data centers located in three Indian cities. This framework aims to accelerate the adoption of blockchain technology in both the public and private sectors, promoting further integration across various industries to enhance transparency and efficiency in public services. India introduces NBFLite for startups, Praamaanik for mobile app security verification, and sees provincial governments embracing blockchain. India also introduced NBFLite, a lightweight blockchain sandbox platform developed for startups and academia for rapid application prototyping, research, and capacity building. Simultaneously, India introduced Praamaanik, an innovative blockchain solution for verifying mobile app origin, leveraging blockchain to verify the security of mobile applications. Provincial governments across India have also embraced blockchain technology, leveraging it in areas such as land registries, healthcare, and supply chain management, offering secure, tamper-proof systems. Significant partnerships and collaborations in the Indian blockchain ecosystem, including healthcare initiatives and international market access. Numerous partnerships and collaborations have advanced the Indian blockchain ecosystem. Blockchain For Impact (BFI), a healthcare fund set up during the COVID-19 pandemic in India, has advanced its partnerships with educational institutes to support projects revolutionizing healthcare. Additionally, RAK Digital Assets Oasis (RAK DAO), a dedicated free zone established to support and nurture digital assets companies, has tied up with the India Blockchain Alliance to offer seamless market access for Indian blockchain and Web3 businesses to the United Arab Emirates, with the aim of accelerating global blockchain innovation and adoption. India achieves milestone in putting documents from federal and provincial organizations on blockchain, demonstrating commendable strides in blockchain adoption. A significant milestone was achieved in 2024 as India put documents from federal organizations and provincial governments on the blockchain through blockchain.gov.in, operated by the National Informatics Centre (NIC). The documents include educational certificates, land records, and drug logistics chains, demonstrating India's commendable strides in blockchain adoption and its increasing interest in decentralized solutions, particularly in areas like supply chain finance, tokenization, and governance.