Vishvasya-Blockchain Technology Stack
Kartavya Desk Staff
Source: PIB
Context: The Government of India has launched the Vishvasya-Blockchain Technology Stack, offering Blockchain-as-a-Service (Baas) with geographically distributed infrastructure to support permissioned blockchain applications.
What is Blockchain?
Blockchain is a digital ledger technology where data (like transactions) is stored in “blocks” that are linked together in a chronological “chain.” Each block is securely encrypted, making the data tamper-proof. Example: Bitcoin, where blockchain tracks all transactions in a secure, decentralized way.
What is Blockchain Technology Stack?
It refers to the layers of technologies needed to build and operate a blockchain. It includes the infrastructure (servers, networks), core blockchain functionality (protocols, consensus mechanisms), smart contracts (automated, self-executing contracts), and APIs (tools to interact with the blockchain). Example: Ethereum’s technology stack enables decentralized apps and smart contracts.
What is Blockchain-as-a-Service (BaaS)?
It is a cloud-based service where third parties provide infrastructure and tools to build and use blockchain applications without needing to develop or maintain the blockchain themselves. Example: Microsoft Azure’s BaaS allows businesses to deploy blockchain applications quickly.
About Vishvasya (BaaS)
Vishvasya offers Blockchain-as-a-Service (BaaS) using a distributed infrastructure to support permissioned blockchain applications. BaaS provides cloud-based tools for companies to build and manage blockchain apps. It is part of the National Blockchain Framework (NBF), which aims to utilize blockchain in areas like health, agriculture, and finance while addressing adoption challenges.
Features of Vishvasya BaaS:
• Rapid blockchain application development
• Security-audited containers for production
• Blockchain security audit guidelines
• Geographically distributed infrastructure (Hyderabad, Pune, Bhubaneswar)
• Easy onboarding documentation
• NBFLite: Lightweight platform for research and learning
Additional Launches:
• NBFLite: A sandbox for startups and academia to prototype blockchain apps.
• Praamaanik: A blockchain tool for verifying mobile app origins.
• National Blockchain Portal
Blockchain Application:
Sector | Blockchain Application
Cryptocurrency | Enables decentralized, peer-to-peer digital currency transactions. Examples: Bitcoin, Ethereum.
Energy | Used for peer-to-peer energy trading platforms and streamlining renewable energy access.
Finance | Supports online payments, accounts, and market trading. Example: Singapore Exchange Limited uses blockchain for a more efficient interbank payment system.
Healthcare | Facilitates secure transfer of medical records, manages the drug supply chain, and aids genetic research.
Smart Contracts | Automates contract execution when predefined conditions are met, without human intervention.
Media and Entertainment | Handles copyright data and digital rights management. Example: Sony Music Entertainment uses blockchain for efficient digital rights management.
Retail | Monitors the flow of goods between suppliers and customers. Example: Amazon Retail’s blockchain-based system for verifying the authenticity of items sold on the platform.
Blockchain-as-a-Service | Provides cloud-based blockchain infrastructure and tools for creating applications and digital services.
Supply Chain Management | Improves transparency and traceability in supply chains, ensuring authenticity and reducing fraud.
Government Services | Applied in voting systems, personal identification security, and secure data management
India & Blockchain Technology Initiatives
• RBI Regulatory Sandbox: Supervises blockchain startups in cryptocurrencies and exchanges.
• National Strategy on Blockchain: Promotes state-specific blockchain apps for e-governance services, excluding digital currencies like Bitcoin.
• State-specific Initiatives: States like Telangana, Tamil Nadu, and Maharashtra focus on blockchain centres and incubators (e.g., Telangana Blockchain District, Tamil Nadu Blockchain Policy 2020).
• Digital India Initiatives: Blockchain identified as a key emerging technology.
• Centre of Excellence for Blockchain Technology: Established by NIC for a nationwide interoperable blockchain ecosystem.
Mains Link:
What is Cryptocurrency? How does it affect global society? Has it been affecting Indian society also? (USPC 2021)
Prelims
• With reference to “Blockchain Technology”, consider the following statements: (USPC 2020)
• It is a public ledger that everyone can inspect, but which no single user controls.
• The structure and design of the blockchain are such that all the data in it are about cryptocurrency only.
• Applications that depend on basic features of blockchain can be developed without anybody’s
Which of the statements given above is/are correct?
(a) 1 only (b) 1 and 2 only (c) 2 only (d) 1 and 3 only
Ans: (d)