The Ministry of Electronics and Information Technology of India has announced its National Blockchain Framework (NBF)

2024-09-25 12:27:24

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According to ChainCatcher, Tiger Research reported that the Ministry of Electronics and Information Technology (MeitY) of India announced the National Blockchain Framework (NBF) on September 4.

India's National Blockchain Framework adopts a different approach compared to existing public blockchains. It uses a permissioned blockchain instead of public blockchains like Bitcoin or Ethereum. In this model, only authorized participants can validate transactions, making it more suitable for government services. This is because the protection and control of personal information have been strengthened.

The key keywords of the announced National Blockchain Framework are security, transparency, and increased trust. By establishing a blockchain infrastructure that will become the foundation of national systems, companies can develop blockchain solutions suitable for the public sector.

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