Like many other global leaders, Prime Minister (PM) Narendra Modi realises the potential of new and upcoming technology in reforming sectors and the lives of people in India. With a view to ensure that India doesn\u2019t miss the blockchain boat, PM recently said: \u201cIndia\u2019s youth can lead a revolutionary movement using AI (artificial intelligence) and blockchain technologies with a value addition.\u201d\r\n\r\nHowever, words need to be translated into action. As Inc42 earlier reported, more than 80% of the blockchain developers in India may move abroad in search of better opportunities and owing to the lack of \u201crobust regulatory framework.\u201d\r\n\r\nBut, what, really, is the big deal about blockchain? How is it different from cryptocurrencies like Bitcoin and Ethereum? Why is every government, consulting firm, technology giant, and startup alike \u2014 and across sectors such as e-governance, fintech, healthcare, education \u2014 rushing in to explore blockchain applications?\r\nWhat is its real potential \u2014 especially blockchain as a technology\/framework and blockchain-as-a-service (BaaS)\u00a0\u2014 in the context of India? How are other countries exploiting blockchain to their advantage? What is the existing scenario, and the future, of blockchain in India?\r\nThis, and a lot of more questions on blockchain have remained unanswered at large, primarily due to two reasons \u2014 lack of real understanding and knowledge of the technology, and the absence of comprehensive analytical data relating to its usage\/potential usage in India.\r\n\r\nTo answer these unanswered questions, cut out the hype from the reality, and clear the air of confusion pervading the technology, Inc42 is launching the Blockchain Technology Report 2018: An In-depth Study Of The Current State and Future Of Blockchain In India.\r\n\r\n\r\n\r\nThe report delves into the hype around the technology, decoding blockchain and its frameworks, and discussing its features \u2014 primarily information consensus across multiple parties, its transparency, and security. Providing a rundown on the leading frameworks \u2014 Ethereum, Hyperledger, Multichain, Corda, Quorum, Lisk, and more \u2014 the report also places the technology in context, bringing in the classic case study of Telegram. It aims to clarify the difference between blockchain and cryptocurrencies for readers with limited or no knowledge about the technology.\r\n\r\nIt also elucidates the current ongoing applications and the landscape of blockchain adaptation across the world and in India, exploring the various initiatives taken by governments the world over to incorporate the technology to bring more visibility into governance.\r\n\r\nThe report talks about the various projects being implemented by Indian government think tank Niti Aayog and state governments to digitise land records and exam certification using a blockchain called IndiaChain.\r\nMost importantly, it discusses the vast scope of application of blockchain across industries, specifically exploring opportunities in India.\r\nHere\u2019s A Look At Some Global Blockchain Facts:\r\n\r\n \tOnly 0.5% of the world\u2019s population is using blockchain today, but 50% or 3.77 Bn people use the Internet\r\n \tOver the last five years, venture capitalists (VCs) have invested more than $1 Bn in blockchain companies\r\n \tAbout 90% of the major North American and European banks are exploring blockchain solutions\r\n \tThe global blockchain market is expected to be worth $20 Bn by 2024\r\n \tIt is estimated that banks could save $8-12 Bn annually if they use blockchain technology\r\n \tIn April 2018, a group of 22 European nations formed a new blockchain partnership aimed at exchanging information on the technology. The countries, including the UK, France, Germany, Norway, Spain, and the Netherlands, signed a declaration on April 10, 2018, establishing the new group, dubbed the European Blockchain Partnership, according to a release from the European Commission, which led the effort\r\n\r\n\r\n\r\nThe increasing importance of blockchain can be understood by the fact that leading IT company Tata Consultancy Services (TCS) believes 2018-19 will be the year of blockchain adoption by the largest banks and stock exchanges in India and expects to generate at least $200 Mn in annual revenues from its blockchain practice. ICICI Bank announced that it has on-boarded more than 250 corporates on its blockchain platform for domestic and international trade finance.\r\n\r\nNow, more than ever, Indian businesses need to be made aware of the importance of implementing blockchain in the banking system, especially to control frauds. According to a Reserve Bank of India (RBI) report, sourced by Reuters through a Right To Information (RTI) appeal, state-run banks have reported as many as 8,670 \u201cloan fraud\u201d cases, totalling INR 61,260 crore, over the last five financial years up to March 31, 2017.\r\n\r\nClosely tracking the trends among the early adopters of blockchain in India, Inc42 Datalabs has also addressed the challenges blockchain startups have faced while designing PoCs (Proof of Concept).\r\n\r\nWhile the Inc42 Blockchain Technology Report 2018 offers indepth insights for professionals seeking to gain an understanding grip of the subject, it could be a fun read for n00bs looking to decode the technology \u2014 especially for those who have been bingeing on Mr Robot, a popular TV series based on cryptocurrency, primarily the Bitcoin.\r\n\r\nIn the blockchain world, find out which block does India stand in.\r\n\r\nOrder the Inc42 Blockchain Technology Report 2018 now!