Blockchain: Revolution and Powering the Future

Blockchains and Distributed Ledger Technologies (DLT) are fast-evolving technologies with huge potential to disrupt many sectors across the business, government and society. The concept of a blockchain was first introduced as the technical backbone of the digital currency Bitcoin but is fast evolving into mainstream applications far beyond its initial purpose. Today, blockchain technology is showing great potential to disrupt industries including supply chain, finance, healthcare sector, asset ownership, identity management and many more. 

Blockchain is a decentralized database that stores online transactions while ensuring security services like anonymity, confidentiality, integrity and transparency. Blockchain consists of a chain of blocks, each block contains a timestamp, block number, nonce, cryptographic hash of the previous block and transaction information. Some of the popular Blockchain platforms used to develop enterprise applications include Hyperledger, Ethereum, IBM Blockchain, Hydrachain, Multichain, R3 Corda, Ripple, BigChainDB, etc.

Blockchain skills and capabilities, for blockchain application development, and platform programming and, are extremely less across the world due to technology nascency and a very less number of engagements. NASSCOM Blockchain report says that, only one developer out of every 400 software developers in India can be able to work on blockchain, which could potentially be the weakness of vast financial transactions in the country. Therefore, the demand of the people with various technical blockchain skills is at a peak. Indian start-ups have still shown only about 0.2% investment hence not being able to tap into the global investment surge in the blockchain. There is an urgent requirement of a promotive regulatory and government procurement of rules and policy to accelerate the exponential growth of startups in India.

Shashidhar

Computer Science Engineering (CSE) program of Bennett University, offers a unique specialization in Blockchain technology from the second year of the program.  The program is designed in such a way that the student learns the concept from the scratch to the advanced level and will be able to understand the key aspects of many blockchain technologies such as  Blockchain Engineering, Cyber Security with Blockchain, Security & Privacy for Big Data Analytics, Digital Currencies, Cryptography, etc through a rich mix of the digital classroom, lab and projects. Moreover, the CSE students from Bennett university have successfully applied various Blockchain applications using Hyperledger and  Ethereum platforms. The projects include Blockchain-based Fake Drug Identification System, Blockchain-based voting system, Trusted Crowdfunding Platform using Smart Contracts, Transparent and Genuine Charity Application and KYC & Asset management using Blockchain technologies.

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