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Public, BFSI sectors driving blockchain adoption in India, says NASSCOM

March 13, 2019
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According to a report by NASSCOM, public sector firms along with the banking, financial and services industry (BFSI) are driving the adoption of blockchain in India.

The report stated that more than 40 blockchain initiatives are being executed by public sector companies, out of which 92 per cent projects are in the pilot phase and 8 per cent are in the production phase. In addition, state governments are also ensuring a progressive approach to develop a framework for start-ups and niche service providers to participate in these initiatives.

While the BFSI sector has seen the highest adoption thus far, other industries such as healthcare, retail and logistics are also accelerating the adoption of blockchain rapidly.

The report also stated that start-ups are involved in over 50 per cent of the blockchain projects across various industries in India.

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