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A new Centre of Excellence (CoE) for Blockchain Technology in Bangalore 

  • IASbaba
  • January 20, 2020
  • 0
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A new Centre of Excellence (CoE) for Blockchain Technology in Bangalore 

In news:

  • A new Centre of Excellence (CoE) for Blockchain Technology, which will strive to adapt emerging technology to create e-governance solutions is established in Bangalore 
  • The CoE by National Informatics Centre (NIC) is the third such centre, following CoE for Data Analytics and Artificial Intelligence.

From Prelims Point of View:

Blockchain Technology:

  • Blockchains are a new data structure that is secure, cryptography-based, and distributed across a network.
  • The technology supports cryptocurrencies such as Bitcoin, and the transfer of any data or digital asset.
  • Spearheaded by Bitcoin, blockchains achieve consensus among distributed nodes, allowing the transfer of digital goods without the need for centralized authorisation of transactions.

National Informatics Centre (NIC):

  • National Informatics Centre (NIC under Ministry of Electronics and Information Technology (MeitY), Government of India. 
  • NIC provides infrastructure to help support delivery of Government IT services and delivery of some of the initiatives of Digital India.

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