Goa could be well on its way to becoming an IT hub in the country with the recent approval of the Goa InfoTech Policy 2018. This past weekend was an exciting one for the state. IT minister Rohan Khaunte inaugurated the International Blockchain Congress right here in Goa at the Inox-Panjim. The event began in Hyderabad on the 3rd of August 2018 and ended in Goa on the 5th of the month. It was held by the Department of Information Technology in collaboration with NITI Aayog and Nucleus Vision, a US based company.
Blockchain, the latest technology to look out for India
So what is blockchain really? Most people aren’t even aware of such technology or that it even exists. The explanation is quite technical too. Blockchain, as the world knows, is a nascent technology. It is to us now what the internet was for the early nineties. The technology is a decentralized ledger that records every transaction of stakeholders and ensures that records are not tampered with. It also ensures that transactions happen faster than the current regulated system.
For example, transferring money or paying your credit from the issuing bank to the acquiring bank can happen on a real-time basis instead of the current three days. Why blockchain? “Blockchain ensures information flow is consistent to all parties and can be applied from finance to media to business transactions,” explained Frans Kempen, the blockchain lead at IBM.
Goa’s IT Minister, Rohan Khaunte is a man of vision. By bringing awareness about this technology to Goa, he hopes to get the government to embrace new technologies to gain the trust of citizens.
Learn more about blockchain here.
A first-time event in Goa
The International Blockchain Congress was held in Goa for the first time. Attendees included innovators, businesses, technologists, regulators, startups and IT industry stakeholders. By holding such an event in the state, there are plans to expose students in the IT field to all the latest technology, besides blockchain, in the IT sector. “Considering the surplus of talent that’s on offer in Goa, events like this will help to build a talent pipeline that will keep the students on par with what’s going on in the IT sector by giving them exposure to blockchain, artificial intelligence, machine learning, 3D printing, drones and new features in the industry,” said Ameya Abhyankar, IT secretary.
An article in the Navhind Times said that a lot of participants were expected from Hyderabad from the IT sector. This included students and IT start-ups. According to various speakers and panelists at the IBC, this technology can have application in a variety of fields ranging from finance to media to even police work. In fact, it was mentioned that the Indian police force is looking to implement it as well.
Here’s what IT Minister Rohan Khaunte had to say about blockchain.
Video taken from Youtube.