Gairika Mitra
The Indian government has recently unveiled the Vishvasya-Blockchain Technology Stack, one of the most substantial blockchain initiatives in the country. This is designed to position India as a hub for blockchain development and public service transformation leveraging Blockchain-as-a-Service (BaaS).
The Ministry of Electronics and Information Technology (MeitY) made the announcement, sharing its plans to reshape India’s digital economy.
At the core of this approach is MeitY’s Vishvasya-Blockchain Technology Stack—a robust infrastructure customized for permissioned blockchain use cases in both government and private enterprises.
The foundation—a blockchain stack designed for security, scalability, and interoperability—will ensure that difficult public service challenges will be addressed. The technology stack will be hosted in distributed data centers in Bhubaneshwar, Hyderabad, and Pune.
This initiative also has a key component called NBFLite, a blockchain platform aimed at empowering startups and academic institutions. Aside from tackling security and interoperability, MeitY aims to address common issues like the shortage of skilled manpower that have long plagued blockchain’s adoption through this initiative.
Organizations in India like the Bharat Web3 Association (BWA) commend the Government of India for introducing the National Blockchain Framework (NBF) and the Vishvasya-Blockchain Technology Stack. The association shared with The Shib Daily that these initiatives will support the creation of innovative decentralized applications and improve the ecosystem as a whole by offering a strong foundation for BaaS.
It also believes that for the Web3 sector, the introduction of NBFLite will enable startups and academic institutions to prototype and test their blockchain solutions rapidly, fostering a culture of innovation.
The association is confident that investors will benefit from increased transparency and efficiency in public services, which can drive broader adoption of blockchain technologies.
“With a conducive regulatory environment and a focus on skill development, the NBF positions India as an attractive destination for investment in the Web3 space, promising significant returns and growth opportunities in the evolving digital landscape.
BWA is dedicated to working with stakeholders to take advantage of these developments, promoting social and economic advancements while maintaining the transparency and effectiveness of public services. Together, we can shape a robust Web3 ecosystem in India,” BWA shared with The Shib Daily.
In July, the association also spoke in favor of having a healthy regulatory framework for digital assets in India. It noted that having one will pave the way for innovation and help protect the interest of millions of Virtual Digital Asset (VDA) users in India.
The association also opined that India has a unique opportunity to become a global leader in Web3 and blockchain technology.
Read More
- India’s Crypto Businesses Welcome Government’s Offer to Bring Clarity to Tax Regime, Regulations
- India Not Considering Legislation to Regulate Cryptocurrencies, Says Government
- India to Clarify on Its Cryptocurrency Policy by September
Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
