Blockchain can be a key driver in boost India's ease of business rank

India needs to ride the wave of new age technologies that are expected create a lot of jobs but Niti Aayog CEO Amitbah Kant expects blockchain to help boost India’s ease of doing business rank.Addressing the delegates at the International Blockchain Congress Mr Kant said, “Blockchain can be a key driver in boosting India’s ease of doing business rankings. Even though we have saw a 30-spot jump, India must aim to be among the top 50 nations.”

Mr Kant emphasised blockchain, which won’t be visible to citizens, can help in reducing the trust deficit in the system as it allows multiple people to collaborate. “The Prime Minister has brought a paradigm shift in trust in India. Blockchain can help reduce the trust deficit,” he added

Consequently efforts of state governments need to be directed towards usecases. In agriculture, blockchain can transform especially in ENAMs and usecases can be explored for certification of produce in agriculture. Citing Apollo Hospital and Oracle’s collaboration with Niti Aayog to put pharma sector on blockchain, Mr Kant said, “Niti Aayog is applying the technology to pressing problems of India in areas such as land registry, health records, fertiliser subsidy distribution system, menace of fraudulent drugs, etc. These projects will bring immense productive efficiency”.