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