Maharashtra authorities say that bringing Web 3 related reforms in this important documentary work will help in controlling the problem of fraud and identifying the right beneficiaries.
Issuance of caste certificates has been initiated in some parts of Maharashtra on Blockchain-based Polygon. Caste certificates are being issued on the Polygon blockchain-based platform LegitDoc to residents of Gadchiroli district and Itapalli village in the state. This allows these certificates to be verified immediately. The goal of the Maharashtra government is to increase facilities for the economically weaker and tribal people. This step is being taken under ‘Digital India’.
65,000 Polygon-based Caste Certificates to be issued in Maharashtra. This will help in reaching the benefits of government schemes to the weaker sections. Maharashtra authorities say that the introduction of Web 3 related reforms in this important documentary work will help in controlling the problem of fraud and identifying the right beneficiaries. Itapally’s Assistant Collector Shubham Gupta posted a LinkedIn“Giving such facility can also set an example for the country,” the post said.
It will also be easier to spot a fake caste certificate with a valid QR code as the data shown on the verification portal and the fake certificate being verified will not match. Gupta said, “Public blockchain has brought a new era on the Internet in which information can be shared easily and it can be made easily without verification. Such solutions can help in maintaining records, payments, There can be a big change in the way of accounting and fund raising.” The reason for the Maharashtra government choosing Polygon is because of the country-connectedness of this Ethereum infrastructure development platform.
The Reserve Bank of India (RBI) is developing a blockchain-based central bank digital currency (CBDC). With this, the people of the country can get a new digital assets category. There will also be no risks like the volatility of cryptocurrencies. The central government had asked the RBI to consider the possibility of a CBDC. The CBDC may be submitted by the RBI by the end of this year. Central banks are developing CBDCs in many countries, including the US and Russia. Some countries like Jamaica are soon to launch their own CBDC.