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Digital India — Indian Government’s Effort in Blockchain Adoption By CoinQuora

by Mike Robinson

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Digital India — Indian Government’s Effort in Blockchain Adoption
  • PBNS India tweets that the Indian government is soon to promote blockchain adoption.
  • This tweet suggests that India may also adopt blockchain in the logistics sector.

Prasar Bharati News Services, India’s latest tweet made it into the top 10. The digital news provider stated in a tweet that CBIC India “explores new frontiers for promoting #DigitalIndia by adopting blockchain for tracking movement of containers to a bonded warehouse.”

It was evident that India has dominated the crypto market. According to a report by CoinSwitch, more than 10 million Indians have crypto today. CoinSwitch’s CEO stated that the company aims to have 50 million crypto users within two years.

Blockchain has dominated not just the financial industry, but other sectors too. Saying that blockchain changed the world is an understatement — it transformed the world as we know it, all for the better.

The Ministry of Finance is working towards paperless trade. Its pilot project is, in fact, the introduction of ECTS (Electronic Cargo Tracking System). As mentioned earlier, using blockchain in the logistics sector is one of the ministry’s goals. It is possible to do this through the project.

ECTS will be used to trace the movement of goods into a warehouse. Similar to the previous, Delhi Customs will manage the warehouse at Tughlakabad Import Commissionerate. Specifically, this project aims to test the blockchain’s promise of secure documentation and GPS-based tracking of containers.

This project should prove that blockchain-based tracking systems can be trusted, particularly when it comes to sensitive data. You will also find notifications and security alerts that trigger security alarms so you can immediately report abuse.

Zone alerts are another option, which allows warehouses to be notified when trucks enter a specific zone or geographic area. These and many more, are included in the Indian government’s big plans for blockchain adoption in the logistics sector.

Decentralized blockchain is still criticized a lot in crypto. Blockchain is a great innovation that has allowed other industries (DeFi and NFT) to thrive.

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