Centre Of Excellence In Blockchain Technology

Explanation :

• On 17^th January, 2020 the Union Minister of Law and Justice inaugurated the Centre of Excellence (CoE) in Blockchain Technology set up by the National Informatics Centre (NIC) in Bengaluru, Karnataka.
• It has been set up with the aim of providing blockchain as a service and to help all stakeholders to benefit from shared learning, experiences and resources.
• It will focus on building a robust infrastructure to provide Blockchain-as-a-Service (BaaS).

Blockchain Technology

• Blockchain, sometimes referred to as Distributed Ledger Technology (DLT), makes the history of any digital asset unalterable and transparent through the use of decentralization and cryptographic hashing.
• It is an especially promising and revolutionary technology because it helps reduce risk, stamps out fraud and brings transparency in a scaleable way for myriad uses.