Analytics India mag reports that CRUBN, an IIT-Kanpur incubated company has teamed up with the Centre for Smart Governance, a premier software development agency of the Government of Karnataka, to develop a permissioned blockchain network as a decentralised trust and efficiency layer for all eGovernment Procurement (e-GP) systems across the country. Karnataka is one among the five south Indian states with Bangalore, India's major IT hub as its capital. Dubbed as the silicon valley of India, Bangalore is also known as the Garden City.
E-Government Procurement (e-GP) systems cater to the procurement and tendering requirements of various government departments and organisations. Though e-GP systems have contributed to enhanced efficiency and transparency in government procurement, there is potential for further advancement of the existing systems.
“We have a dynamic space within the Startup Incubation and Innovation Centre (SIIC) that helps in breeding innovations. All the incubatees of the SIIC have been contributing to the country in various means and in times of crucial need. I am delighted for the team of CRUBN, who have come forward to help in developing a key blockchain network across the country that would enrich the existing e-governance systems. This will help IIT Kanpur in realising the vision of Atmanirbhar Bharat in state-of-the-art technologies and making India a technology superpower,”
said Professor Abhay Karandikar, Director, IIT Kanpur.
Key highlights of the project:
- This blockchain network will be governed by the terms and conditions decided by the consortium of the e-GP Systems across the country.
- The blockchain system can be used as the national de-duplicated supplier datastore.
- Any e-GP system can depend upon the trust that Blockchain guarantees to authenticate supplier details. This will potentially save enormous costs associated with tender processing and make the process simpler and efficient.
- Bank guarantees will also be pushed to this system in a tokenised & privacy-preserving manner to maintain integrity.
- Tokenisation of Bank guarantees would mean that they will become a more acceptable instrument of transaction than they are now.
With its vision to empower India in technological self-reliance, IIT Kanpur has been undertaking various projects and initiatives. CRUBN was incubated at IIT Kanpur for Phase-III of the National Blockchain Project, funded by the National Security Council Secretariat and envisioned to build e-governance solutions using blockchain technology.
IIT Kanpur’s C3i Center, funded by the SERB (Science and Engineering Research Board), is India’s first cyber security research and education centre in the field of cybersecurity of critical infrastructure. Further, the C3i Hub (The Technology Innovation Hub funded by DST’s National Mission on Cyber-Physical systems) established at IIT Kanpur helps in empowering the research, education, start-up ecosystem, and industrial collaboration in the field of cyber security.
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