Department of Information Technology & Electronics has taken focused approach towards leveraging Blockchain technology to establish West Bengal as a front-runner in becoming an emerging Technology Hub. Blockchain is a vast distributed ledger or database running on millions of devices, where not just information but anything of value – money, titles, deeds, music, art, intellectual property etc. can be stored securely and privately. The world is looking at Blockchain as the next biggest disruptive technology after internet. Among the financial institutions, almost 50% of the banks are expected to use this technology by 2020 and there is a huge transformation expected to take place in the non-financial sector as well, within next few years. Blockchain is expected to create a significant impact in the job market as knowledge of this disruptive technology is in high demand in numerous sectors of the industry.
The aim of the event is to build a holistic ecosystem on Blockchain technology in West Bengal through knowledge sharing, workshops, awareness generation and providing a single platform for all stake holders – Industry, Academia, Startups, Corporates, Governments and Investors to understand, collaborate & explore the potential of Blockchain technology.
The event will be hosting international acclaimed speakers on blockchain and 2000 enthusiast participants from Industry, Academia, Corporates, startups, Governments and Investors.
As a first endeavour, the Department of Information Technology & Electronics had identified that blockchain technology can be harnesses in maintaining transparency in crowdfunding management of any project. Thus the first live application in the country on project based crowdfunding management on Blockchain was created by Webel under the aegis of Department of Information Technology & Electronics, Government of West Bengal. The solution leveraged blockchain technology to ensure that every transaction made by the donor is not only secured through the art of complex cryptography but also is completely transparent & immutable. A fully auditable trail is maintained through distributed ledgers, which are indelible and unforgeable.
To take the initiative further and develop a collective understanding on different aspects of Blockchain, Consensus 2018 is being organized where blockchain experts, corporates, start-ups, individuals around the globe are invited to share their insights on the technology, applications, use cases & best practices on capacity building and awareness generation.