Blockchain is an innovative distributed ledger technology which was first introduced in the design and development of cryptocurrency, Bitcoin in 2009 by Satoshi Nakamoto. Blockchain is an amalgamation of various innovations, with a clear business value. Blockchain enables a shared ledger among the various parties involved in business transactions, which acts as the single source of truth. Blockchain eliminates the need for a central entity to validate the transactions. Blockchain can be used in both Permissioned and Permission less models. 

These models have applications in various domains such as education, governance, finance & banking, healthcare, logistics, cyber security, media, legal, power sector, etc. Globally and nationally, various efforts are being made towards implementing Blockchain based applications. Proof-of-concepts and pilot deployments have been successfully carried out. In order to reap the benefits of this technology, there is a need for a national level strategy on Blockchain technology.

56% of Indian businesses are moving towards blockchain technology
Blockchain, a distributed ledger technology, enables a layer of trust and eliminates the need for a third party to validate the transactions. Blockchain technology is an amalgamation of various technologies such as distributed systems, cryptography.  Data and transactions stored in blocks of Blockchain are secured against tampering using cryptographic hash algorithms. Blockchain technology include transparency, security, and efficiency, which make it unique in enabling a layer of trust over Internet for various applications.

Blockchain Israel, is the largest community in Israel with over 200 start-ups (constantly growing) and 3,000 members in the Blockchain Technology. Aims to make blockchain solutions fully accessible to companies and startups by providing a range of award-winning products and by opening new channels to connect people even more. 

Relevant companies, interested to learn more on Israel innovative technology on Blockchain are invited to contact the Trade and Economic Department at the Israeli Consulate General in Bengaluru.

Contact: Ms. Kavitha S
Trade Officer -Trade and Economic Mission, Consulate General of Israel to South India (Bangalore). Tel: +91-80-49406515.