The Centre of Excellence in Blockchain Technology operates as a coordinated, interoperable blockchain ecosystem across the country. It is a gateway to test and develop best solutions for projects undertaken by NIC at the Centre and State levels.
Intending to foster stronger collaboration between the government, public and private sectors, CoE in Blockchain Technology promotes the use of blockchain technologies and facilitates rapid adaptation and on-boarding of solutions. It also provides research-led thought leadership and drives strategic blockchain developments to address complex business problems in governance, to improve government service delivery.
With enhanced infrastructure provided by NIC, the CoE additionally offers Blockchain-as-a-Service (BaaS). It allows Government Departments to leverage Blockchain services to build, host and use their own blockchain apps, smart contracts and functions on the blockchain. The CoE manages all the necessary tasks and activities to keep the infrastructure agile and operational.
Key features of Blockchain Technology:
- Distributed ledger
- Near real-time updates
- Chronological and time-stamped
- Cryptographically sealed
- Programmable and enforceable contracts
Blockchain Technology Stack
Shri Ravi Shankar Prasad, Hon’ble Union Minister of Law & Justice, Communications, Electronics and Information Technology (MeitY), inaugurated the Centre of Excellence in Blockchain Technology at Bengaluru, Karnataka on 18th January 2020 digitally from Delhi through video conferencing.
Shri T M Vijay Bhaskar, Chief Secretary to Government of Karnataka, Shri P Ravi Kumar, Additional Chief Secretary to Government of Karnataka, Shri Rajeev Chawla, Additional Chief Secretary to Government of Karnataka, Shri S Gopalakrishnan, Additional Secretary, MeitY and Chairman NICSI were the guests of honour. A white paper on “Blockchain for Government” was also released by the dignitaries.
During the inauguration, Shri Ravi Shankar Prasad, in his address said that NIC is the backbone of India’s Digital Governance. Blockchain technology will open new frontiers in the area of governance, treasury management, excise operations etc. And would like to see its use in the field such as agriculture, health and primary education.
The CoE is expected to provide a platform that the Government departments can look to for consultancy, capacity building and as an incubation centre where they can perform PoCs, evaluate different platforms etc. and move on to production with confidence. Various Governments Departments can leverage on the services and the infrastructure provided by the Centre of Excellence to develop and deploy blockchain applications.
For more details please visit : https://blockchain.gov.in/
FAQs
The Centre of Excellence in Blockchain Technology operates as a coordinated, interoperable blockchain ecosystem across the country. It is a gateway to test and develop best solutions for projects undertaken by NIC at the Centre and State levels.
What is a technology center of excellence? ›
In technology companies, the center of excellence concept is often associated with new software tools, technologies or associated business concepts such as service-oriented architecture or business intelligence.
What is blockchain technology in India? ›
Blockchain is a shared immutable ledger that facilitates the process of recording transactions and tracking assets across a business network. Anything of value can be tracked and traded on the Blockchain network. A Blockchain is a distributed database, which is shared over a computer network.
Where is blockchain used? ›
People primarily use public blockchains to exchange and mine cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Why is Centre of Excellence needed? ›
A Centre of Excellence (CoE) is a vital component of any organisation wishing to achieve a digital transformation in its business. Objective: to create operational initiatives aimed at increasing productivity, reducing costs and improving the quality of production.
How does Centre of Excellence work? ›
According to Gartner, centers of excellence are, “A physical or virtual center of knowledge concentrating existing expertise and resources in a discipline or capability to attain and sustain world-class performance and value.” They usually involve internal stakeholders, internal and/or external subject matter experts, ...
Who owns Centre of Excellence? ›
Documents obtained exclusively by the T&T Guardian, which was published in Saturday's newspaper, showed that the centre is jointly owned by two companies-CCAM and Co Ltd and Renraw Investments Ltd.
What are the benefits of COE? ›
In this blog post, we'll explore the benefits of having a Process COE in place.
- Streamlined Processes. ...
- Improved Business Agility. ...
- Increased Process Consistency. ...
- Enhanced Cross-Functional Collaboration. ...
- Better Risk Management.
Good examples of a COE would be systems, applications, and products; digital transformation; or automation. It is important to recognize that effective technology use, as guided by a center of excellence, is to ensure it will be adopted across the entire organization.
Who is the biggest blockchain company? ›
Nubank, Coinbase, Core Scientific, MicroStrategy, Marathon Digital Holdings, and Riot Platforms have the highest revenues in the blockchain sector.
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).
What is the future of blockchain technology? ›
According to a forecast by research firm Gartner, by 2026 the business value added by blockchain will increase to over $360 billion. Then, by 2030, that will increase to more than $3.1 trillion. With current and future trends, blockchain is predicted to make a big revolution in the coming decades.
Who actually uses blockchain? ›
What are blockchain's applications across industries? Blockchain's potential use cases span across industries, including financial services, retail, marketing and advertising, and healthcare.
What is the main purpose of blockchain? ›
The purpose of the blockchain is to share information amongst all parties that access it via an application. Access to this ledger in terms of reading and writing may be unrestricted ('permissionless'), or restricted ('permissioned').
Can a blockchain be hacked? ›
The concepts behind blockchain technology make it nearly impossible to hack into a blockchain. However, weaknesses outside of the blockchain create opportunities for thieves. Hackers can gain access to cryptocurrency owners' cryptocurrency wallets, exchange accounts, or the exchanges themselves.
What is a center of excellence CoE and how does it benefit patients? ›
Healthcare centers of excellence hone in on one specific area of medicine (instead of treating a wide range of ailments) such as cancer care, total joint replacement, bariatric surgery, and more. Whatever their focus, centers of excellence provide highly customized specialty care within their area of practice.
What does CoE mean? ›
COE, or Close of Escrow, marks the point at which property ownership is officially transferred from the seller to the buyer.
What is Salesforce center of excellence CoE and what are its key responsibilities? ›
Broadly, a Salesforce CoE is a management framework that ensures timely DX. It understands the customer's DX and business goals and aligns all the other stakeholders – implementation partners, success management teams, external consultation partners – on these.
What are the five centers of excellence? ›
Centers of Excellence work in five core focus areas: Economic Development; Education Innovation, and Efficiency; Workforce Supply/Demand; Industry Sector Strategy; Equity and Access.
