NITI Aayog in association with Apollo Hospitals and IT major Oracle initiated a project to deploy blockchain technology for cracking down on the menace of spurious drugs.
Underscoring the need for more use case projects involving blockchain, CEO Amitabh Kant said the technology could help track and trace medicines and spurious drugs. The project involves tracing the drugs from manufacturer to consumer.
NITI Aayog was using the technology, as a proof of concept projects, in the areas of land records, health records and fertiliser subsidy disbursement. Mr. Kant, who on Friday addressed the International Blockchain Congress through video-conference, said there was huge potential of use of blockchain in various areas.
“To my mind, blockchain can be a key driver for ease of doing business,” he said, adding enforcement of contracts and time taken to register property could be addressed using the technology. Blockchain technology can help find solutions to address the logjams in courts, he said, pointing out that about three crore cases are pending in various courts of the country.
Blockchain and other distributed technologies are powerful because they allow multiple parties to collaborate and come to a consensus without any need for a third party, Mr. Kant said.