The Indian Institute of Technology Madras has been accepted as a member of Hedera Hashgraph’s council for decentralized governance.
IITM is India’s top technical education institute and falls under the direct supervision of India’s Ministry of Education.
IITM is a member of the Hedera Governing Council and has been designated one of the 39 international organizations that manage the initial network nodes to govern the Hedera public ledger, built using distributed ledger technology (DLT). It boasts of having members like Google, IBM, Wipro, and other leading IT companies.
IITM will also be advancing DLTs capabilities for education and research. It plans to test use cases surrounding public blockchains to pay via the Hedera Consensus Service or the Hedera Token Service.
Professor Prabhu Rajagopal, IITM’s Center for Nondestructive Evaluation, spoke about how he helped other council members to identify sustainable use cases.
IITM researchers released BlockTrack, a blockchain-based smartphone application that allows users and organizations to digitize and manage their medical records.
The Maharashtra State Board of Skill Development has recently implemented an Ethereum -based, tamper-proof credentialing platform called LegitDoc.
Neil Martis, CEO of LegitDoc, said that major institutions like the National Institute of Technology (NIT) and Ashoka University discuss similar systems to combat document forgery.
India is still sitting on the fence when it comes to deploying a regulatory framework for cryptocurrencies. Lately, the head of RBI has informed government interest in bringing earnings made by crypto trading under the taxation umbrella. India crypto enthusiasts and entrepreneurs believe it could push cryptocurrencies into the mainstream.
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.