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Blockchain Technology

8.4.4  Apiary – Centre of Excellence (CoE)

In July 2020, the Apiary – CoE was launched in Gurugram by Software Technology

Parks of India (STPI) in partnership with MeitY, the Government of Haryana, the

Government Blockchain Organization and several blue-chip companies and pre­

mium educational institutions. The centre aims to identify and boost 100 start-ups in

the arena of blockchain innovation, to create innovative solutions to meet the exist­

ing and emerging challenges of the sector through mentorship and shared learning

experiences from accomplished industry and academic pioneers, and to provide the

highest standard of physical infrastructure, training, research & development, fund­

ing and networking. It will create a holistic ecosystem and give rise to the govern­

ment of India’s “Make-in-India” and “Digital India” programmes (Apiary, CoE in

Blockchain Technology, 2020).

8.5  REGULATORY APPROACH

The contradiction between blockchain-based arrangements and existing legal and

hierarchical structures is a significant limitation to opening the transformative

potential of blockchain. Thus, there is a need for change at the policy level in order

to boost the technology and bring maturity to the ecosystem of distributed ledger

systems. An ideal framework for blockchain implementations policy should be; (i)

learning & sharing between the states; (ii) an engaged improvement of new pilot

ventures; (iii) characterizing security, protection, administration and interoperability

measures; (iv) the making of blockchain fundamental segments; and (v) the cre­

ation of foundations devoted to explicit use instances of high significance (Allessie &

Sobolewski, 2019).

8.5.1  National Institute for Smart Governance

(NISG) National Blockchain Strategy

The NISG put forward a draft national strategy on blockchain on 30 December 2019

under the guidance of Professor S. Shivendu from the University of Florida.

The aim is to introduce a set of policy frameworks and incentives by advising

stakeholders to significantly improve blockchain integration and existing environ­

mental economic programs through:

• Architecture of legal and administrative structures.

• Creating a framework to motivate academics.

• The field of research and education promotion.

• Formulating policies that lead to faster innovations.

• The adoption and growth of blockchain in the public and private sectors.

This draft strategy recommends mainly creating laws and regulations on the basis

of the functions achieved by blockchain and not on the technology itself. It suggests

establishing a body to coordinate blockchain strategy across various state bodies