Friday, 17 August, 2018
   Following trains of 16/08/2018 canceled due to Kerala Floods :Tr. No. 12202 KCVL-LTT Garibrath Exp; Tr. No. 16346 TVC- LTT Netravathi Exp; Tr. No. 12617 ERS-LTT Mangala Exp; Tr. No. 19423 TEN-GIM Humsafar Exp; Tr. No. 22114 KCVL-LTT Exp   Traffic Ordeal Again: Hundreds of vehicles stuck in Traffic Jam on the Vasco-Panaji route at Cortalim.   Former Prime Minister Atal Bihari Vajpayee dies at 93.   PSI Anand Narvekar's bail plea rejected in Bribery Case Panaji Special court, 14 days Judicial Custody.   High Court rejects both Anticipatory Bail pleas of Mangueshi priest Dhananjay Bhave in both molestation cases   The annually awaited 24-hour long 'Damodar Bhajani Saptah' begins in the town of Vasco-da-Gama with the traditional ritual of placing Shreefal (coconut) at the feet of Lord Damodar.   Traffic Jam at Cortalim; Goa Police arrests Congress workers agitating against bad road condition that's causing inconvenience to public; criticise BJP. Heavy police force at spot   A big setback for Goa; Mhadei Tribunal allows Karnataka to divert water   CM should resign for giving false hopes to Goans: Khalap   In a first, Sarvajanik Annadaan for 7,000 devotees   AAP: FDA’s formalin checks at borders is a farce   Traffic jams: Govt issues advisory   I-Day bonanza: Hotels full, but at lower tariffs

Blockchain: Unlocking new possibilities

The government of Goa has recently announced its intention to introduce Blockchain technology in the state to offer better governance. TG Life looks at the possibilities for use of the new tech

10th August 2018, 02:21 Hrs

The state of Goa further cemented its image as an emerging IT hub when it hosted the World Blockchain Congress last weekend. The government is now looking at possibilities to use blockchain technology to improve its governance. So, what exactly is this technology? And how can it change governance? 

In simple terms, Blockchain is a system of record-keeping that offers authentic records that cannot be tempered with and open to public. That said, the information is recorded in “blocks”. These blocks are made up of three elements: the main data that you wish to record, a “hash”, which is like a unique code of that data, and the hash of the previous block. 

Here, there is possibility that anyone could change the hash of a block. But Blockchain is open for anyone to join, which means all users on the network have copies of the original blocks. A block is considered authentic only when all the users in the network validate it. That means if you temper with one block, the rest of the users in the network will reject it, rendering your information invalid. This, in addition to a mechanism called “Proof of Work” makes Blockchain a highly secure transaction technology. The technology is mainly used in BItcoin business, but it can also be used to authenticate permits, licenses, medical and land records etc. Dr Pandurang Kamat, Associate CTO and Chief Technologist at Persistent Systems, who was the speakers at International Blockchain Congress, explained how the government of Goa can use Blockchain technology for better governance. 

“Blockchain offers trust, integrity of data and transparency. In government the most obvious use case is that of any kind of asset registry. The provenance, ownership and the history of transfer of assets that the government registers can be tracked on a blockchain instead of a normal database system”,  says Dr Kamat. “Blockchain can ensure the sanctity of the tendering process by allowing for bids to be committed without being revealed in advance and preventing bid alterations, allowing for better KYC of the bidders etc. A blockchain based public ledger that lets citizens, CAG and the department heads to track progress of files through the system will also add transparency and accountability,” he adds. 

That said, the systems has certain drawbacks. Firstly, the technology is still pretty nascent and thus is used mainly by those with advanced knowledge of IT. It’s complex systems and jargon is difficult to understand for common people. The second issue is costs. “There are costs associated with it”, informs Dr Kamat. “The security and integrity of blockchain comes at the cost of replication of data, he says. “Secondly for the true value to be realised multiple entities in the government or industry have to come together and agree to setup the blockchain network.”

Another flaw in the technology is called 51% attack. Blockchain relies on peer to peer network to validate information, but what if most of these users themselves begin to lie? And if more than half of the P2P network (51%) pick up the lie, it spreads through the network. This possibility was highlighted by Satoshi Nakamoto, the mysterious creator of Bitcoin. 

   “The technology is available today to everyone. However it’s hard to use for the common person – that user experience has to improve significantly for adoption to increase.” Dr Kamat notes. “The underlying infrastructure is still in nascent stages but it is expected that over the next 5 years the usability, stability and performance of blockchains will improve significantly and drive adoption in enterprises, government and consumer space.”

Related news

Parsis mark a new beginning

The Parsi community across India marks their New Year today, 200 days after it is observed across the world. TG Life speaks to some of the members about the traditions Read more

‘Music has always been a part of my life’

The ‘Sound of Music’ fame music director Martin Emslie who was on a Goa visit recently to conduct a master class for Namah Chorale as well as examinations for London College of Music students in Goa, admits that his favourite musical compositions are those that can be played with only one finger on the piano Read more