Blockchain 101 at Nepal Office of the Attorney General: Raising Awareness for a Digital Future

📅 December 03 & December 10, 2024

The Blockchain 101 Awareness Program concluded with two insightful sessions hosted at the Nepal Office of the Attorney General. The event was led by Mr. Santosh Shrestha, CTO and Co-founder of Rumsan, to raise awareness about blockchain’s transformative potential and distinct identity apart from cryptocurrencies.

🔍Breaking Myths: Blockchain ≠ Cryptocurrency

One of the key highlights of both sessions was the clarification that blockchain and cryptocurrency are not the same. While cryptocurrency is a popular application of blockchain, the technology itself is a robust system for secure, transparent, and tamper-proof data management.

🌟 Broader Applications of Blockchain:

Land Registries: Transparent ownership records.
National ID Systems: Tamper-proof IDs to combat fraud.
Financial Systems: Streamlined processes and privacy-focused KYC with Zero Knowledge Proof.

🚀 How Blockchain Can Transform Nepal

The session highlighted blockchain’s ability to address some of Nepal’s persistent challenges:

National Identification: Tamper-proof IDs to combat fraud and improve governance.
Land Registry: Transparent ownership records to prevent land disputes and fraud.
Financial Systems: Streamlined cross-border remittances and enhanced KYC processes using Zero Knowledge Proof.

⚠️ Challenges to Adoption

Despite its vast potential, blockchain adoption in Nepal faces significant hurdles:

Regulatory Uncertainty: Lack of clear policies.
Limited Infrastructure: Gaps in Digitization.
Awareness Issues: Need for education among stakeholders.

However, collaboration and innovation can bridge these gaps and drive blockchain-powered progress!

🌱 Focus on Sustainability

Mr. Shrestha also addressed blockchain’s environmental concerns 🌍, suggesting:

Utilizing Surplus Renewable Energy: Reduce carbon footprints.
Peer-to-Peer Energy Trading: Enable decentralized trading of goods and energy.
Streamlined Recordkeeping: Minimize waste and duplication.

🔑 Why Blockchain Matters for Nepal?

Blockchain is more than just technology—it’s a protocol for trust, transparency, and inclusion. The event emphasized its potential to:

Empower Nepal’s digital ecosystem.
Drive transparency in public systems.
Foster socio-economic growth.

The session gave attendees a clear understanding of blockchain’s vast potential and critical role in shaping Nepal’s future.

Stay connected with eSatya for more such initiatives as we lead blockchain awareness and innovation.