National Blockchain Framework

The Ministry of Electronics and Information Technology (MeitY) has launched the National Blockchain Framework (NBF) to provide a unified architecture for deploying blockchain solutions across multiple sectors. The initiative aims to enhance transparency, accountability, and efficiency in public service delivery.

Key Highlights:

• Timeline and Funding:
  • Initiated in March 2021 with a budget of ₹64.76 crore.
  • Officially launched on 4 September 2024.
• Core Components:
  • Vishvasya Blockchain Stack: An indigenous modular platform that forms the technical backbone of NBF, enabling the development and deployment of governance-oriented blockchain applications.
  • NBFLite: A sandbox version of the blockchain stack that promotes innovation, experimentation, and capacity building in blockchain technology.
  • Praamaanik: A blockchain-based verification tool designed to authenticate the source and integrity of mobile applications.
• Why Blockchain?
  Blockchain offers key advantages such as transparency, immutability, decentralization, and trust without intermediaries, making it a reliable tool for governance and data integrity.
• Types of Blockchain Networks:
  • Public Blockchain: Open to all nodes for transaction verification and block addition (e.g., Bitcoin, Ethereum).
  • Private Blockchain: Permissioned networks restricted to selected participants within an organization, offering greater control and privacy.
• Significance:
  The NBF positions India to leverage blockchain for digital governance, improve citizen trust, and foster innovation in areas like supply chain management, identity verification, and digital records.

Source: PIB