Local IT companies offering blockchain solutions overseas, Palak says
Bangladeshi IT corporations have been deploying blockchain alternatives around the world through training supplied by the government, said Condition Minister for ICT Zunaid Ahmed Palak yesterday.
"Through a center of excellence on emerging technologies under Bangladesh Pc Council (BCC), we've provided the training to around 200 designers in nine IT corporations," he said.
"These companies are actually deploying blockchain solutions in Bangladesh, Japan, Malaysia, the UK, the US and other market segments," he said.
Blockchain is a ledger of blocks of info, such as transactions or agreements, that are kept across a good network of pcs, writes the BCC.
This information is placed chronologically, can be looked at by a community of users, and isn't usually maintained by a central authority like a bank or a government. Once published, the info in a particular block can not be changed, it said.
If people make an effort to tamper with that information, it becomes obvious. A decade ago, blockchain was coupled with other technologies to produce cryptocurrencies, and the primary blockchain-based cryptocurrency was Bitcoin, it added.
Palak was addressing a webinar on "Fasset presents the Blockchain Overall economy Summit 2021," organised by Inspiring Bangladesh and Leveraging ICT for Employment and Growth of the IT-ITES Sector, a task of the BCC beneath the Ministry of Articles, Telecommunication and IT.
He said IBM was the earliest partner of the center while the BCC was dealing with Bangladesh Blockchain Olympiad seeing that the host nation of International Blockchain Olympiad in 2021.
He said the government's main target was to supply citizen e-services.
The lack of info, information theft and increasing cyberattacks on government services have become a common phenomenon and any manipulation of critical information or data could affect the credibility of the machine, he said.
"So, we must utilise blockchain technology found in providing citizen companies and ensure the reliability of info," he added.
Salman F Rahman, the primary minister's private sector and expenditure adviser, said blockchain had emerged while a potent thought and response to bureaucratic incapability all over the world to keep up with the fast technological adjustments and transformations.
The technology is central to cryptocurrency, which includes swept many designed countries and unnerved the financial system, he said.
"The blockchain has been gaining traction all over the world for good and awful reasons. On the one hand, it's a consequential concept of technology. You can seek to lessen the control of the authority on deal and financial activities," said Rahman.
"It seeks to completely overhaul just how we figure out how to manage assets, and organisational and authorities boundaries around them," he added.
Prof Shibli Rubayat-Ul-Islam, chairman of the Bangladesh Securities and Exchange Commission, and Md Sirazul Islam, executive chairman of the Bangladesh Investment Development Authority, also spoke.
