A blockchain-based certificate verification system is proposed by Startup India to maintain the authenticity of the Indian startups dealing with blockchain-based solutions.
This blockchain-based certificate can be availed by any Indian startup, private sector organizations, and angel investors to authenticate their startup.
By doing so Indian government wants to motivate people to start their own startups and wants to mitigate the compliance burdens on the startups. In India, while starting a startup, the concerned person needs to submit the startup’s documents to several governmental bodies separately.
Niti Aayog is also working with the Indian education institutes for further implementation of the blockchain-based certification. Along with the launch of blockchain-based certification, the Indian government also introduced the program to find out the most promising startups in the country and reward them to inspire others.
Recently, the chief minister of Maharashtra, Uddhav Thackeray also made up its mind on the uses of the blockchain technlogies development . The goverment estabilished a collabration with an Indian startup name LegitDoc with the aim to provide temper-proof diploma certificate to blockchain based startups. The certificates will be issued using the Ethereum blockchain.
The Government of Maharashtra signed a deal to implement a credentialing system powered by Ethereum for providing tamper-proof diploma certificates. https://t.co/PIPogFa3oB
— Cointelegraph (@Cointelegraph) July 27, 2021
What is a Blockchain-Based Certificate?
The prime reason behind the creation of the blockchain-based certification is to govern the operation of the blockchain. Indian government named this project as IndiaChain. This is intended to prevent fraudulent activities, improve the speed of the contract, and maintain the level of transaction transparency.
The government is also thinking about linking IndiaChain with its other digital projects such as IndiaStack and unique identity project Aadhar. This linking will serve the country’s infrastructure.
How to Get Blockchain-Based Certification in India?
The process of being recognized by Startup India is straightforward. You can get your blockchain-based certification in India by following the four steps mentioned below:
- Submit your startup on the Startup India portal. After submission, Startup India will review your startup and proceed further to issue your certification.
- To increase your chance of certification approval, we suggest you apply along with the startup recognition certificate. If you want to avail some other benefits, you can share your startup recognition certificate with other government institutions.
- The government departments verify the startup recognition certificate alongside the other information under 30 seconds with the help of the Startup India blockchain platform. If you comply with the government rules and regulations, then you will be rewarded with a blockchain-based startup certificate.
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