Following the success of the Generation Blockchain hackathon which took place in Delhi in November, the National Institution for Transforming India (NITI Aayog) has confirmed that plans are in place for the government to work to determine suitable uses for blockchain technology, across a number of sectors.

With a strong focus on one of the greatest advantages of blockchain technology – document verification – it is expected that proposed sectors and industries will include registries, health, agriculture, and education. Land registry specifically has been cited as an area that could benefit from blockchain.

India appears to be welcoming the new technology already. Recent reports claim that the Institute for Development and Research in Banking Technology (IDRBT) is looking to create its own blockchain platform, in a bid to offer a wide range of secure banking services utilising the latest technologies.

The news of Indian Government officials being open to further exploration of blockchain technology has come as a surprise to many, especially as the country has been vocal in its distaste of cryptocurrencies in the past. Officials have regularly claimed that cryptocurrencies hold no essential value for the country, although it is reported that India’s few exchanges are now struggling to meet the growing demand.