After the State has purified land records, it is setting its eye to use blockchain technology in tracking ownership of land records. The State has decided to use blockchain technology to augment the credibility, accuracy, and efficiency and to arrest fraudulent transactions in land dealings. The government is implementing Dharani, an integrated land record management system. Furthering the process of keeping the system tamperproof blockchain technology will be used, said Rajat Kumar Saini, Director, Dharani project.
“For example, somebody wants to change name X of a land record to name Y, there could be five steps in mutating the name. Once, the five steps are done, it would be recorded and a block is formed. And, that land record will be validated,” he said.”The way this use case scenario works is, once a certificate is put on a block, the employer can verify the authenticity of the certificates,” explained Rama Devi, OSD, ITE&C, Telangana.
The new form of record keeping could start off from the colleges that fall under the ambit of JNTU and OU. “The record keeping would not just help the employers or banks to verify certificates but also for students to keep all records, digitally. The burden would reduce on them when certificates are applied for,” said Prof V Venkata Ramana, Telangana State Council of Higher Education (TSCHE). “We are initiating a pilot project to secure 10th and 12th-grade certificates issued to the students by the State.
The certificate transaction data would be stored on blockchain technology and external user agencies such as other universities, banks, financial institutions, private organisations offering employment can verify the certificates submitted by the students against the data provided by them to ensure authenticity and versatiy,” said IT Minister KT Rama Rao.
Expressing displeasure over the Central governments’ stand that crypto-currency will not be a ‘legal tender’, CP Gurnani, CEO of Tech Mahindra said: “by not taking a formal stand on cryptocurrency is the risk associated in the future of blockchain technology as usage of cryptocurrency was the first use case scenario.”
Jehan Chu, a founding member of the Bitcoin association, observed that India is benefitting from the late adoption of blockchain technology. “There is a baggage that has come with cryptocurrency, much like a shadow, as a lot of it is known to be of the drug trade, money laundering, and crime. Those were the themes which were dominant in the west. In India, it’s a clean slate, and the ability is now to create socially valuable blockchain and cryptography for its society,” he said.
This article provided by NewsEdge.