Working paper on Non-Financial Use Cases of Blockchain Technology
Ever since its initial conceptualisation in 2009, blockchain technology has been synonymous with financial products and services - most notably crypto-assets like Bitcoin. However, while often associated with the financial sector, blockchain technology represents an opportunity for multiple industries to reinvent and improve their legacy processes. In India, the 2020 discussion Paper on Blockchain Technology by the Niti Aayog as well as the National Blockchain Strategy of 2021 by the Ministry of Electronics and Information Technology have attempted to articulate this opportunity. These documents examine the potential benefits that would arise from blockchain’s introduction across multiple non financial sectors.
This working paper looks to examine three specific use cases mentioned in the above mentioned government documents: Land record management, certification verification and pharmaceutical supply chain management. We look to provide an overview of what blockchain technology is and document the ongoing attempts to integrate blockchain technology into the aforementioned fields. We also assess the possible costs and benefits associated with blockchain’s introduction and look to draw insights from instances of such integration in other jurisdictions.
The full working paper can be found here.
Author
