Maharashtra to use Blockchain technology

Blockchain technologyThe Maharashtra government is planning to finalise five to six pilot projects involving startups in the next few months to test Blockchain technology.

The projects would be in the areas of financial inclusion, land records, supply-chain financing, goods and farm insurance and motor vehicle registration.

Blockchain is a decentralised digital ledger that allows storage and distribution of information in digital format without it being hacked.

“We are looking to work with startups to implement blockchain use cases. It will cut down manual processes and duplicate paperwork. It will save us cost, time and bring in transparency,” said SVR Srinivas, Principal Secretary – IT, Maharashtra.

Andhra Pradesh is the first state to run pilot projects on blockchain technology, putting up land records on a public ledger. Apart from Maharashtra, Telangana, Karnataka and Gujarat are evaluating the technology for e-governance.

“We can use blockchain technology in all the processes where one needs to go through past transactions. It will bring down redundant labour,” Srinivas said.

“The Maharashtra government will conduct a study to determine the quantum of investments. The savings will be much more than the investments.”