IN WHAT WAYS DOES BLOCKCHAIN NAVIGATE IN SHAPING DIGITAL INDIA'S FUTURE?

Abstract

We have noticed that nations which are working on technology for the welfare of their citizens have seen dramatic changes in every area, which improves the GDP growth and raises the national and per capita income. Government of India has also taken initiative called “Digital India Programme” to provide all type of services to every citizen in electronic form.

Purpose: The principal aim of this study is to conduct a thorough analysis of the potential role that blockchain technology can play in India's digital transformation. This paper aims to provide insights into the specific areas where blockchain can bring about positive changes by examining its applications in financial inclusion, healthcare, education, and government services. Furthermore, the study will evaluate the risks and difficulties related to the application of blockchain technology.

Problem Statement: There are obstacles preventing India's current digital infrastructure from integrating and scaling smoothly. Trust, security, and centralization are still problems that impact the efficiency of services like record-keeping, financial transactions, and identity verification. It is clear that we need transformative technology to address these issues and build a more transparent and resilient digital environment. In-depth discussion of blockchain technology's potential to transform India's digitalization strategy is provided in this paper, along with solutions to current issues and a roadmap for a more effective and inclusive future.

Methodology: Descriptive research method is used and relevant secondary data is collected from different reports, government websites and researcher articles.

Keywords: Blockchain technology, Digital India, E-government, Start-ups, Financial inclusion.