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Published : 03 Jul 2021, 05:09 AM
The genie of digital transformation is out of the bottle and wherever it cast its spell, it brought about phenomenal changes. From global competitions on robotics to freelancing on international platforms, the youths of the country put their best foot forward to chase their dream. But, the nation is now eyeing another paradigm shift – a transition from individual feats to a well-defined and holistic digital infrastructure. Recently, I ran through an in-depth article, printed in the CRI's policy-based magazine WhiteBoard, under the title 'Lessons Bangladesh can learn from others about blockchain regulation'. As an entrepreneur in the technological sphere, I found it particularly intriguing since the threshold level of proving mastery in the IT arena has already been crossed and the challenge lying ahead for the youths is to develop a solid understanding of the underlying technologies that power the digital infrastructure. One of those methods is blockchain, a hackneyed word among tech enthusiasts that is dubbed as a powerful technology to shape the course of IT in the coming years.
The reason blockchain is gaining trust among tech experts is that it is the safest database accessed and updated by the users without the intervention of any centralized authority. It has the potential to solve the problems in the country that are as old as the hills. Take the case of land registry and mutation that most people perceive as a shady business subjected to manipulation in the hand of some cunning dudes. But, blockchain can be a trusted method to sort out the mutation and other processes involved in land purchases as blockchain enables keeping permanent and immutable records on the Internet. It is the most legitimate virtual database that is time-stamped and not prone to hacking. Apart from the land registry issue, it can also be an effective approach to creating a healthcare database since the country is yet to bring forth a system capable of keeping the health records of 160 million people.
The article, penned by globally recognized researchers Primavera De Filippi and Morshed Mannan, in WhiteBoard covered the world of possibilities that can be tapped with blockchain. 'Whiteboard', a policy magazine with a difference, has already provided a broad platform where well-researched articles are carried on a plethora of issues relevant to the nation. The idea is to provide debate and direction on policy in a suggestive mode.
Reflecting on the world of scopes that blockchain can bring, the WhiteBoard article said, "In countries of the Global South, this interest has ranged from adopting Bitcoin as legal tender in El Salvador to rolling out a digital identity system for refugees in Jordan. Land registries have also been prototyped in Ghana and Honduras. In all these contexts, blockchain technologies are seen as providing security from cyber-attacks and data manipulation. Moreover, by adopting blockchain, these countries have signalled to the world that they are embracing the Fourth Industrial Revolution."
That this foundational technology should be adopted in education, health, land, smart city, banking, fintech was echoed in the speech of State Minister for Information and Communication Technology (ICT) Zunaid Ahmed Palak when he inaugurated the blockchain Olympiad last year. As divulged by him, the government has set out on using blockchain in e-governance and e-file to make the process more secure. In the education sector, Shahjalal University of Science & Technology blazed a trail with the blockchain application in its certification, abolishing the chance of the slippery business of faking certificates as the technology enables everyone to verify the documents at home and abroad. Bangladesh Computer Council (BCC) has already been internationally awarded for applying blockchain in all their training activities and certification. In a nutshell, safe digital infrastructure must be powered by blockchain and stepping stones have to be laid towards that peak. There is hope on the horizon since the country has a long-term plan on how to implement blockchain and where to implement it and has formulated a strategy to this end from ICT through a gazette.
Since the train of demographic dividend is at the station and the abundance of the youth population is a boon to the country's digital foundation, it is time to equip more youths with the expertise in blockchain that can help digitize many sectors, make the IT infrastructure smarter, secure, and hassle-free. That expertise and ecosystem may not be ensured in a flash. But, the process must be expedited to make hundreds of youths develop expertise in this coveted genre and usher in a transition to a new digital era.
