Blockchain Technology

Blockchain Technology
• Blockchain Technology, as the name suggests, is a process of
recording information in such a way that it becomes impossible for
anyone to hack or change it or even trick the system. You can call
blockchain a digital ledger or a log of transactions distributed all over
the network of systems integrated with the blockchain.
• Blockchain is a secure database shared across a network of
participants, where up-to-date information is available to all
participants at the same time.
Blockchain Technology
• The blockchain is an incorruptible digital ledger of transactions that
can be programmed to record virtually everything of value. Each list
of record in a blockchain is called block. So a blockchain is a
continuously growing list of records called blocks, which are linked
and secured.
• Blockchain Technology was invented by Satoshi Nakamoto in 2008
for use in the cryptocurrency bitcoin, as its public transaction ledger.
Satoshi Nakamoto’s aim in creating the decentralized Bitcoin ledger—
the blockchain—was to allow users to control their own money so that
no third party, not even the government, would be able to access or
monitor it.
Blockchain Technology
• The creator of Bitcoin, Satoshi, disappeared back in 2011, leaving
behind open source software that the users of Bitcoin could update and
improve. The invention of the blockchain for bitcoin made it the first
digital currency to solve the double spending problem without the
need of a trusted central authority or central server.
• Blockchain is a technology that enables the secure sharing of
information. Data, obviously, is stored in a database. Transactions are
recorded in an account book called a ledger.
Blockchain Technology
Blockchain Technology
• A blockchain is a type of distributed database or ledger—one of
today’s top tech trends—which means the power to update a
blockchain is distributed between the nodes, or participants, of a
public or private computer network. This is known as distributed
ledger technology, or DLT. Nodes are incentivized with digital tokens
or currency to make updates to blockchains.
• Blockchain allows for the permanent, immutable, and transparent
recording of data and transactions. This, in turn, makes it possible to
exchange anything that has value, whether that is a physical item or
something less tangible.
Blockchain Technology
• The prospects of blockchain technology
• 1.Bitcoin is the only blockchain application that is being used and
tested across various industries.
• 2.Some of the sectors that can leverage the benefits of this technology
include – banking, healthcare, agriculture, education, land records, and
electricity.
• 3.A reliable blockchain network can increase the accuracy, cost-
efficiency, and credibility of a contract while minimising the possible
risks of fraud.
• 4.It can play a significant role in the health insurance sector while
managing claims and eliminating the chances of insurance claim
scams.
Blockchain Technology
• 5.Blockchain technology can also benefit IoT (Internet of Things) and
AI (artificial intelligence)
• 6.Sensitive data related to citizens, for example – census data, land
records, births and deaths, criminal records, business licences,
electoral polls, intellectual property registry, etc., can be recorded in
tamper-proof ledgers powered by blockchain
Blockchain Technology
• The challenges associated with Blockchain
• Setting up a blockchain network can be an expensive investment in the
first place
• A high surge of energy is required for the functioning of this
technology
Refernces
• https://www.mckinsey.com/featured-insights/mckinsey-
explainers/what-is-blockchain
• https://unacademy.com/content/upsc/study-material/science-and-
technology/block-chain-technology/
• https://www.ibm.com/topics/blockchain
• https://www.synopsys.com/glossary/what-is-blockchain.html
Security Initiatives by the
Govt of India
Security Initiatives by the Govt of India
• Initiatives taken by The Indian Government on Cyber Security
• 1. The Indian Computer Emergency Response Team (CERT-In) -
The advancement in the Indian Computer Emergency Response Team
(CERT-In), which operates as the national agency to address the
country’s cyber security, has helped reduce the rate of cyber attacks on
government networks.
• 2. Cyber Surakshit Bharat
• Aiming to strengthen the cybersecurity ecosystem in India and
following the Government’s vision of a “digital India,” the Ministry of
Electronics and Information Technology (MeitY) has launched the
Cyber Surakshit Bharat initiative
• The program was in partnership with the National Electronic
• 3. National Critical Information Infrastructure Protection Center
(NCIIPC)
• NCIIPC is a central government establishment, formed to protect
critical information about our country, which has an enormous impact
on national security, economic growth, and public health care
• NCIIPC has mainly identified the following as “critical sectors”-
• Power & Energy
• Banking, Financial Services & Insurance
• Telecom Transport
• Government
• Strategic & Public Enterprises
• 4. Appointment of Chief Information Security Officers
• The Indian Government has published a written guideline for CISOs of
government organizations, outlining best practices for safeguarding
apps, infrastructure, and compliance
• Chief Information Security Officers (CISOs) can identify and
document the security requirements that may arise with each technical
innovation
• 5. Personal Data Protection Bill
• The most important one for Indian citizens is the approval of the
Personal Data Protection Bill by the Union Government to protect
Indian users from global breaches, which focuses on data localization
• The bill involves the storage and processing of any critical information
related to people only in India
• It strictly states that individuals’ sensitive personal data is to be stored
locally; however, it can be processed abroad under certain conditions
• The bill also aims to make social media companies more accountable
and push them to solve the spread of offensive content
• 6. Cyber Swachhta Kendra (Botnet Cleaning and Malware
Analysis Center)
• A). The “Digital Swachhta Kendra” (Botnet Cleaning and Malware
Analysis Center) is a part of the Government of India’s Digital India
drive, overseen by the Ministry of Electronics and Information
Technology (MeitY), determined to make secure cyberspace all
through India by distinguishing botnet contaminations and advising,
empowering cleaning, and end-client security systems to forestall new
diseases
• B). The “Cyber Swachhta Kendra” (Botnet Cleaning and Malware
Analysis Center) is intended to address the goals of the “National
Cybersecurity Policy,” which calls for the development of a secure
cybernetic ecosystem in the country
• C). The centre works in close coordination and collaboration with
Internet service providers and antivirus/product companies
• D). The website provides users with information and tools to help
them protect their systems/devices. Following Section 70B of the
Information Technology Act 2000, this centre is run by the Indian
Computer Emergency Response Team (CERT-In)
• 7. National Cyber Security Policy, 2013
• A). The Policy’s goal is to create safe and resilient cyberspace for
citizens, businesses, and the Government
• B). The mission is to provide protection to cyberspace information and
infrastructure, develop capabilities to prevent and respond to
cyberattacks, and minimize damage through coordinated efforts of
institutional structures, people, processes, and technology
• C). To create a workforce of 500,000 trained cybersecurity
professionals in the next 5 years through capacity building, skills
development and training
• D). Through appropriate legislative intervention, enable effective
cybercrime prevention, investigation, and prosecution, as well as the
enhancement of law enforcement capabilities
Thanks