“The blockchain network is essentially a chain of computers that must all approve an exchange before it can be verified and recorded.”
Warangal Urban: Dean, Research and Development, Kakatiya Institute of Technology and Science (KITS), Prof Polala Niranjan said that blockchain technology can be applied to any industry. Agriculture, banking, healthcare, education, e-commerce, property, mining, retail, transport and logistics, media and entertainment, automotive- the list goes on. “But we need to have a thorough understanding of its implementation to yield the areas where it can be applied and in what way,” he said speaking at the valedictory session of the five-day Faculty Development Programme on “Blockchain Technology” Jointly organized by AICTE Training and Learning (ATAL) Academy and Department of CSE, KITS, Warangal, on Friday.
“The blockchain network is essentially a chain of computers that must all approve an exchange before it can be verified and recorded. The information is constantly reconciled into the database, which is stored in multiple locations and updated instantly. That means the records are public and verifiable. Since there is no central location, it harder to hack the information exists simultaneously in millions of places,” he added.
KITSW Principal Prof K Ashoka Reddy said that as many as 134 people including faculty members, researchers, postgraduate scholars in academia and industry had attended the FDP from January 25 to 29 from across South India. “The FDP provided a hands-on-experience on Blockchain Technology from the feedback given by the participants,” he added.
According to the Head, CSE, Prof V Shankar, the Blockchain is a database that is shared across a network of computers. “Once a record has been added to the chain it is very difficult to change. To ensure all the copies of the database are the same, the network makes constant checks. Blockchains have been used to underpin the digital currency. The tech allows digital information to be distributed, but not copied. That means each individual piece of data can only have one owner. Using cryptography to keep exchanges secure, blockchain provides a decentralized database, or “digital ledger”, of transactions that everyone on the network can see,” he added.
FDP co-coordinators Sd Moeed, B. Hanmanthu, Dr B Raghuram, N C Santhosh, all deans, all the Heads, faculty, staff and Associate Professor of Chemistry and PRO Dr D Prabhakara Chary were present at the valedictory programme.
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