Blockchain for Productivity Forum highlights: Transforming public utilities with blockchain tech
Blockchain technology is set to revolutionize various industries across the world, and experts and thought leaders in India recently gathered at the “Transforming Public Utilities: Blockchain Use-Cases over Digital Infrastructure Aligning G20 Agenda” conference to discuss its adoption.
The conference, hosted by the Blockchain for Productivity Forum, took place at the Constitution Club of India in New Delhi. It featured speakers from organizations such as TRAI, STPI, TCIL, Serenity Shield, CDAC, TEC, IIM Lucknow, HyperLedger Foundation, Gaia Smart Cities, Bharat Web3 Association, Ministry of Defence, Indian Navy, and IEEE. These experts shared their insights on how blockchain can transform public utilities.
Dr. Satya Gupta, the chairman of the Blockchain for Productivity Forum and Bharat IPv6 Forum, emphasized that the objective of the conference was to create awareness about the use cases of blockchain technology. The aim is to enhance productivity and solve problems faced by public enterprises, the government, and society at large.
Venkat Naga, the Co-Founder and CEO of Serenity Shield, highlighted that every industry will have a use case for blockchain. The technology offers decentralization, privacy, security, and trackability, while also promoting data ownership. Naga stressed that these benefits must be embraced by industries worldwide.
During the conference, various blockchain use cases were discussed. India has taken a strong stance on blockchain adoption since its G20 presidency. Indian Finance Minister Nirmala Sitharaman expressed that the use of blockchain technology is expected to grow by 46% in the next few years. The leaders of the Blockchain for Productivity Forum echoed this sentiment.
Kaushal Kumar Sharma, the former Director General of the Competition Commission of India, stated that blockchain has the potential to reduce crimes in the country. He believes that the transparency and traceability offered by blockchain technology will lead to a more honest society, as criminals will be quickly detected and caught.
Other leaders at the conference discussed the utilization of blockchain in securing the telecommunication industry, monitoring cyber space, managing supply chains, and leveraging blockchain in the healthcare and pharmaceutical sectors. The focus was on digitalization and how blockchain could be involved in enhancing productivity and utility.
In closing, Dr. Gupta emphasized that one does not need to be an expert in the field to understand and utilize blockchain technology. It can be learned through daily use, and individuals from various backgrounds can leverage the technology to reap its benefits.
Blockchain technology is poised to transform various industries by providing transparency, security, decentralization, and ownership of data. The discussions at the conference in India highlighted the immense potential of blockchain and the need for its widespread adoption. As more organizations and governments recognize the benefits of blockchain, we can expect it to revolutionize various sectors and contribute to global digital transformation.
