Ethereum Co-Founder Talks About Building Blockchain Prototypes for NITI Aayog
In April, Ethereum co-founder startup Consensys, which is founded by Joseph Lubin, signed a non binding agreement to make blockchain prototypes for India’s central government top policy think tank across healthcare, land registry, supply chain and more.
Among its 48 solutions, Consensys India is now in the process of identifying the top 10 solutions that could be brought to India gradually in different field of industries such as supply chain, banking solutions, citizen journalism, and music industry.
Currently, Joseph Lubin is in India to discuss the future of blockchain & the latest deal with the think tank, NITI Aayog. he said,
“We have done some work in land title registry around the world, that is an exciting project as well where you can take advantage of the decentralised and trustworthy nature of this kind of database system and put titles on the system, it is much more trustworthy infrastructure and it is a much more fluid infrastructure,”
He contunued,
“In a place like Dubai for instance there is the requirement for 12 different stamps on a document, you got to drive around all these different places and when you are transferring title in clearing and settlement of a purchase, it can take weeks and sometimes months to get everything done, so if you put all the business logic on a blockchain system, you can have all the documentation in that system, all the people who have right to access that documentation can log in and see it and you can have the entire workflow right there. It is logically centralised but it is trustworthy. This is the biggest project that we are currently working on with NITI Aayog,”
Founded in October 2014 by Joseph Lubin and E.G. Galano, ConsenSys is a blockchain venture production studio focused on building, consulting, and launching decentralized applications using Ethereum.
Ethereum is a decentralized platform for applications. It is powered by Ether – a cryptocurrency, which is in turn powered by the Blockchain technology.
(Source: CNBC TV18)
KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.
