When Stuart Haber and Scott Stornetta initiated work in 1991 on a secured digital chain of blocks , they would not have envisaged the wider usage of this technology across industries and services . Their research found wider expression ,when in 2008 Satoshi Nakamoto , leading an anonymous group propounded the technology behind decentralized and distributed digital ledgers . Unfortunately , this technology found its use with Bitcoins , the crypto currency to begin with and this guilt by association delayed its acceptance by others until 2016 . Till then,it remained controversial because of its ability to run on the blind side of the regulatory framework .
Today as we usher in 2018 , Blockchain has become the ‘hot ‘ technology of the year and has permeated the financial , petroleum and government business in a significant way . The huge potential of this technology is yet to be assessed and everyone across industries and services are analyzing its impact through seminars,workshops and pilot projects . Dubai has announced that it will aim to be world’s first Blockchain Powered Government. The Indian enterprises have started testing the technology in a variety of applications and the government and Niti Aayog is aware of its advantage to create a secured and seamless digital business framework and government operations. Niti Aayog is already talking about a possible ” IndiaChain ” ,India’s own Blockchain network , with linkage to the existing Aadhaar framework to cut fraud, and to increase transparency and enforcement .