Introducing Nucleus Vision’s Blockchain Protocol- India’s leap into Blockchain leadership
One of the key goals of Nucleus Vision is to have India lead the global blockchain technology frontier. India is a pioneer in technology services domain and this sector contributes around 8% of the Country’s GDP. However, India has witnessed passively as the blockchain technology has proliferated across the globe, resulting in the combined coin market cap of all the global cryptocurrencies, built on different blockchains, skyrocketing from zero to over USD 400 billion, mostly in the last few years.
Nucleus Vision has now had operations in India for more than three years. After raising India’s largest token sale, Nucleus Vision is now bringing the brightest technological minds in the country to co-create a next generation, homegrown blockchain protocol that is tailored to Indian needs and truly meets our requirements for scalability, security, and privacy. This will also demonstrate India’s strength in technology development and value-add to the global blockchain ecosystem, which needs technology development hubs such as India to join the global community.
We at Nucleus Vision are extremely proud to announce that we are developing such blockchain protocol.
Nucleus Vision CEO, Abhishek Pitti says, “we at Nucleus Vision have always worked towards solving real, everyday problems at scale. Despite blockchain being a complete game-changer, current protocols have their limitations. With Nucleus Vision blockchain protocol, we are proud to bring a homegrown solution in collaboration with top Indian Technologist, Industry Leaders, Influencers and government think tanks. Our innovation will work for enterprise applications, as well as government bodies, in a seamless and efficient manner. I envision we will accelerate our vision of India to be a major powerhouse in blockchain technology and support global adoption.”
Some key characteristics of the Nucleus Vision blockchain protocol are:
Pluggable Consensus Model
Different types of blockchains have different needs. Depending on the nature of the business problems we are trying to solve, requirements may vary. With a pluggable consensus model, we will be able to optimize both scalability and performance, including higher throughput.
Privacy
Data privacy is at the core of our vision. We are looking into homomorphic encryption as a mechanism to provide higher levels of privacy, where critical Personally Identifiable Information (PII) is never stored without being encrypted at all times — including, at the time of storage, and when being recalled and in transit. This will significantly lower the likelihood of privacy breaches.
Integrating with Existing Infrastructure
It is impractical to expect large systems to scrap their existing infrastructure and build a blockchain-based system from the ground up. Oracles provide an ability to connect with existing systems that reside outside of the blockchain, giving our blockchain protocol the ability to not only leverage existing centralized databases but also to support decentralized storage. The connection of separate systems is one of the biggest challenges we are looking to address through the Nucleus Vision blockchain protocol.
In order for blockchain to be implemented in existing large-scale applications, it needs to operate in a plug-and-play manner. The Nucleus Vision blockchain protocol will have this feature built-in.
Account and Key Management
Our blockchain protocol will have built-in support to leverage enterprise-ready account and key management. This includes robust cloud as well as on-premise account and key management solutions that are battle tested and meet the already established compliance standards of the industry.
What’s Next?
The Nucleus Vision IoT application will be one of the first to use this protocol, and we envision building a platform where various industries such as healthcare, manufacturing, and finance will be able to build on top of the protocol to enable different use cases.
Indian IT industry veteran T V Mohandas Pai, a former director and CFO of Infosys, who is also an advisor to Nucleus Vision said, “Blockchain technologies have shown enormous promise and its emergence comes at a time when India is at a cusp of a digital revolution. Nucleus Vision’s blockchain protocol can help many Indian digital endeavors embrace this technology and the project’s India first approach is the icing on the cake.”
Mr. Amey Abhyankar, Director, IT Department, Govt. Of Goa, said “We believe blockchain technology will help us achieve far more transparency and efficiency in our processes, thereby giving the citizens of the state greater trust in the government and its operations. We are exploring opportunities to create and implement use cases for government business functions that could use blockchain. Nucleus Vision blockchain protocol can be explored to build government scale blockchain applications.”
Stay tuned to our channels as we bring you more updates about the Nucleus Vision blockchain protocol.
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