Blockchain – A forward step to secure transaction

What is Blockchain Security is paramount in financial transactions. Software outsourcing companies h

What is Blockchain

Security is paramount in financial transactions. Software outsourcing companies have witnessed that cyber breaches are advancing at higher rate than technology advancements. Blockchain is seen as a next big thing for safe and secured financial transactions. Blockchain is known as a backbone technology of bitcoin, a digital currency revolution. Blockchain allows making and verifying transactions on network instantaneously without any central authority.

Blockchain is a data structure that maintains growing list of records called blocks and each block contains a link to previous block similar to Linked-list and a timestamp thus creating a digital ledger. Blocks are secured from revision and tampering.  Cryptography is used to allow each participant on the network for ledger manipulation in a secured way without any help from central authority.

A blockchain consists of blocks that hold batches of valid transactions. Each block includes the hash of the prior block in the blockchain, linking the two.  Following diagram is an overview of underlining technology and architecture.

 

 

 

Blockchain not only provides a way for secure transaction but also makes it easy to recover corrupt data as every node inside a blockchain has copy of data/block. Data loss chances are also minimal as every node has copy of data. Blockchain is a technology that can be integrated into multiple areas. Some of areas where Blockchain is useful are payment system and digital currency, cryptocurrency, permission distribution like distributed voting system and share power of voting system.

Security feature in blockchain

There is no centralized “official” block copy that exists. If any person wants to change its own database copy, it will be reflected until it is verified by verifier. This reduces the chances of hacking or security breaches.  

Blockchain uses public key and private for encryption. Private key are known only to user and it is not stored anywhere.  During transaction, only scriptpubkey is shared. Scriptpubkey contains a public key and network address in encrypted format. So sender does not know about public key and network address making it highly secured way of transaction compared to other technologies. Following diagram depicts the transaction flow.

                                                      

 

Workflow Of Blockchain

Let us understand how blockchain technology works with an example. Person A wants to send some bitcoin (digital currency) to person B.  Person A requires wallet account and also should know digital address of Person B. Following are the steps involved in this transaction.

 

 

 

Step 1: Person A initiates a transaction and includes digital signature inside transaction

Step 2: Transaction is sent to miner. Miner is one type of verifier that verifies all transaction of connected nodes

Step 3: Miner broadcasts transaction as block to all connected nodes if transaction is valid

Step 4: Node inside network accepts block if all transaction inside it are valid and not already spent. After ownership of block inside network and transaction is transferred into target account inside block is sent to person B

Step 5: Person B gets money (digital currency)

Disadvantages of Blockchain

There is tradeoff for using Blockchain technology. It does offer additional security however one should consider following disadvantages.

  • Blockchain requires more storage space as it stores all transactions.
  • Complete transaction takes more time compared to other technologies as transaction verification process is longer and we are dependent on Miner for verification. On verification by Miner, transaction is broadcast to all node as Block
  • This is comparatively costly technology. Miner charges per transaction for verification

Conclusion

Blockchain technology is gaining popularity among financial institutions as this is highly secured way of doing transactions. Software outsourcing companies in India are experimenting the usage of Blockchain technologies in various ways through various vendors.

Top ten questions to ask to software outsourcing companies in India

Have you made up your mind to outsource some of your IT operations, functions or projects to softwar

 

Have you made up your mind to outsource some of your IT operations, functions or projects to software outsourcing companies in India to reap the economic and competitive benefits? Beware, your wrong decision can put your organization in trouble. Quantification of process to choose software outsourcing company can help you choose the best organization that fits the best to your requirements.  A set of questions follow to help you in this process.

1. How is your financial health?

Financial stability is vital before outsourcing your projects to software outsourcing companies. Financial stability would induce stability and timely delivery of your projects. It would also ensure that it can cope up with economic fluctuations in the market. Financial health should be given very high importance while quantifying candidate qualification. Organization can use financial rations like Debt-to-Equity Ratio, Current Ratio, Quick Ratio, Return on Equity (ROE) and Net Profit Margin. This is indicative list and not an exhaustive one. There are many other financial parameters that one should consider to determine the financial health of a software outsourcing company.

2. How is your physical health?

Company profile with sound physical statistics like employee count, office locations, running project counts, successful projects executed, year of experience etc. helps you to decide company capabilities and competencies.

3. What is your relevant experience to my domain?

Proven track record of service commitment and delivery is very vital but Industry knowledge is even more important.  A company can be sound technically but if it fails to understand business requirements, it lays the foundation of unsuccessful product or project.  User acceptance heavily depends on this factor. Even if a project is technically good, it may fail if user acceptance is not given due consideration. Industry and subject knowledge play crucial role for successful project.

4. Do you have any quality assurance certifications?

Certification alone cannot help to judge a company in terms of quality and timely delivery. However this provides an organization additional surety that the company follows specific processes that leads to quality and timely service delivery to customers. This also reflects company’s commitment and dedication to service quality.

5. How would you protect our confidential information?

Concepts, ideas and trade secrets are king in business. It floats the organization and misuse of this has ability to sink the organization as well. IP protection and confidential information are the key factors that were hindering revolution in software outsourcing for ages. However software outsourcing companies in India have started respecting the importance of Intellectual property ownership and confidential information. Companies have taken required actions to ensure that IP remains with outsourcing company and confidential information are protected.

6. What is your project management methodology?

The success of project execution is highly dependent on selecting the right software development life cycle and its project management methodologies. Project management methodologies controls the project scope, time and cost creeps. It also puts required checks on project quality and deliverables. Software companies in India have started using AGILE Project management methodologies like SCRUM for better and effective project managmenet. Right project management methodologies provide sustainable benefits at tactical, operation and strategic level.

7. How would you fit to my requirements?

Every organization has different business needs. It is important to ensure that the company that you choose is flexible and scalable enough to meet your needs and service offerings. It should be flexible and ready to go beyond a service call to ensure that your business runs smoothly.

8. How is your business model and contracts structured?

Conflicts are unavoidable and can emerge any time during or after the service delivery.  It can be due to any reason foreseen or unforeseen. Contracts and agreements are vital to mitigate legal and contractual risks. It is important that contracts and agreements are structured considering all software outsourcing risks, business needs and geopolitical boundaries and protects the organization from legal issues and conflicts.

9. What is your SWOT analysis?

SWOT analysis would help an organization to understand strengths, weaknesses, opportunities and threats of the software outsourcing company in question. A closer frequency match of SWOT analysis, ensures better sync of organizations in terms of company culture, values and work ethics. SWOT analysis also provides other meaningful information about how company is structured and where it is heading. This can help you in company analysis in better way.

10. What is your force majeure?

Natural calamity or any unforeseen event or circumstances can put your business on hold. It is very important to know how company manages and reacts to force majeure like earthquake or any other natural calamity to ensure business continuity. These terms can help to know how soon your business can be expected to resume during force majeure.

A wrong decision of choosing software outsourcing company in India can outweigh the benefits of outsourcing in terms of money, time and skills and right choice can boost your business to next level. Though this list is not exhaustive but indicative to help you choose right software outsourcing partner to reap the competitive and economic benefits of software outsourcing.

Government Mobile Applications

Though India is developing in a fast track mode in many sectors like space science, health care etc.

Though India is developing in a fast track mode in many sectors like space science, health care etc. we still lag behind in many aspects. One of the major lagging differences compared to other developed countries is digitalization of government processes. Digitalization of government companies will not only improve the services and comforts of citizens but also save time and reduce the corruption.

To overcome this big hurdle, Our Prime Minister, Shri Narendra Modi, has taken an initiative called Digital India that would lead India to the new edge and era of digital world. These initiatives will act as bridge in communication between government and citizens. And it will also bring up transparency of the government procedures. In solution to above discussion, PMO has conceptualized to launch various mobile applications in collaboration with various software development companies in India for the same.

Here few government mobile applications are listed below:

  • Sanskriti App:
    • It focuses on Indian ‘Sanskriti’-Culture.
    • It provides all the details about the events organized by government to promote Indian culture in various fields including Music, Dance, Theatre, Exhibition, Film Shows, Lectures and Others
  • My Clean India:
    • This application has the roots in the ‘Swachh Bharat Abhiyan’ launched by GOI to facilitate clean India campaign.
    • Citizens have to put the pictures of the place when uncleaned and after cleaning to show their contribution.
  • Digital India:
    • This android app is developed by GOI with the help of Mobile Application Development Company in India.
    • It is a part government effort to reach to every individual of the country in remote area in an effort towards ‘Good Governance’.
  • UPOne:
    • It helps people to track/enquire about the status of various applications submitted by them.
    • It also facilitates in checking the authenticity of certificates issued to citizens.
  • Aadhaar Enrollment Status:
    • Aadhaar card is one of the core program launched by GOI to provide the identification to every individual uniquely.
    • This mobile application helps users to track their status of their ‘Aadhaar’ application.
  • Voter Information Search:
    • This app is intended for those users who want to know whether his/her name has been included in the electoral roll of the constituency.
    • User can also find out the polling station he/she has been allocated to.
  • Vaccination Alerts:
    • As a part of GOI effort towards healthy India, it has launched an app to provide vaccination alerts for the kids under the age of 5 years.
    • Under this program, alerts are sent to the parents of the children’s whose vaccination date is due.
  • mPassport Seva:
    • In an effort to make the passport services more reliable, convenient and transparent, GOI has taken an initiative.
    • Under this initiative GOI has developed a mobile app- mPassport Seva and has establishedPassport Seva Kendras (PSK) across India.
    • Users can track their passport status, can apply for a new passport, info about renewal of passport, and can locate nearest PSK. 
  • Indian Income tax Refund Status:
    • This app is intended to help users to get the update of their Income Tax Refund Status.
    • Without having to physically visit the Income tax office every time to track their status, this app has proven to be beneficial to the users in tracking the status and thus in saving time.

Conclusion:

Government mobile applications are key initiatives of Digital India Program. It is a visionary project of our Prime Minister, Shri Narendra Modi, to lead India to the new era of digital world. These mobile applications are developed by mobile application development companies in India. These mobile applications will build digitized world and thus saving lot of time and energy of common people.

 

UMANG – Unified Mobile Application for New-age Governance

Corruption is a burning issue in India. One of the major sections involved in heavy corruption is gr

Corruption is a burning issue in India. One of the major sections involved in heavy corruption is ground level government procedures.  The main reason behind this is a clumsy and cumbersome Physical paperwork. The Prime Minister of India, Shri Narendra Modi, has a far-sighted vision to lower corruption at maximum possible level. After a number of meetings and suggestions with core committees, they have decided to develop a concept of one web feasibility.

In the era of smart phone, building a mobile application would be an innovative and long-sighted decision. The name of this visionary project would be UMANG (Unified Mobile Application for New-Age Governance). This step is one of the dream projects of our Prime Minister.

Indian government has conceptualized to build “Mother of all apps” known as UMANG with an aim to integrate major central and state government services under a single platform. The Narendra Modi government is working towards building this master app in collaboration with Mobile Application Development Company in India. This application would lead India to the new edge and era of paperless governance.

Working of UMANG:

The visionary project of Narendra Modi is being developed by the union ministry of communications and information technology’s national e-governance decision. This dream app will integrate more than 200 government services such as healthcare applications, E-post, Passport Seva, Women Safety (Nirbhaya), IRCTC, Utility bills, Crime and criminal tracking, CBSE/State education boards, Income tax, Mother and child tracking etc. on a single platform.

The platform will be designed in such a manner that it would be capable of maintaining or remembering citizen personal details, preferences and data required to access department services without the user having to re-enter every time. Key identification documents like Aadhar Card, PayGov and DigiLocker shall also be included within this platform.

Features of UMANG app:

The app will be designed in collaboration with Web Development Company in India in such a way that it will keep record of citizen personal and preference details required to access the department service.

  • The app will be available for various operating systems including windows, Android and iOS.
  • Documents such as Aadhar card, PayGov and DigiLocker also are a part of this platform.
  • The app will have transaction details so that users can reach to the concerned authorities if in case anything goes wrong.
  • Citizens can store their documents in the secure government cloud using DigiLocker.
  • Users can share the digital certificates through the app. Thus, they need not visit the departments physically.
  • Aadhar card authentication will be enabled for services and PAN card authentication for non-aadhar enabled services.
  • Live Chat support will be enabled for citizen’s assistance.
  • The app will be available in English as well as in regional languages.

Launch of UMANG:

The government has uploaded a 207 paged proposal document of the app on the Department of Electronics and Information Technology website to invite potential agencies for the app development and maintenance. According to the document, the plan is to roll out the first phase of the app in under 3 years.

Conclusion:

UMANG is one of the key initiatives of Digital India Program. It is a visionary project of our Prime Minister, Shri Narendra Modi, to lead India to the new era of digital world. This dream app will build paperless e-governance system and thus saving lot of time and energy of common people. It also aids lowering corruption at ground level government.

 

Digital Locker - Online document storage facility

Digital locker is one of the key initiatives under Digital India Program launched by the Prime Minis

Digital locker is one of the key initiatives under Digital India Program launched by the Prime Minister of India. It is aimed at minimizing the usage of physical documents and enable sharing of e-documents across agencies. It is an online application, developed in collaboration with software development companies in India, which provides facility of online document storage of important documents including Voter ID card, PAN card, Driving license etc. 

Everyone needs to have Aadhaar number to use DigiLocker facility. Residents can upload their own electronic documents and digitally sign them using the e-sign facility. All e-documents are linked to Aadhaar number and can be treated as authorized documents by Government and its other entities. Therefore, physical documents need not to be carried while applying for jobs or government certificates or educational institutions etc.

Objectives of DigiLocker:

  • Enable digital empowerment of residents by providing them withDigital Locker on the cloud
  • Enable e-Signing of documents and make them available electronically and online Minimize the use of physical documents
  • Ensure authenticity of the e-documents and thereby eliminate usage of fake documents
  • Secure access to Govt. issued documents through a web portal and mobile application for residents
  • Reduce administrative overhead of Govt. departments and agencies and make it easy for the residents to receive services
  • Anytime, anywhere access to the documents by the resident
  • Open and interoperable standards based architecture to support a well-structured standard document format to support easy sharing of documents across departments and agencies
  • Ensure privacy and authorized access to residents' data.

Components of DigiLocker:

  • Repository: It is a collection of e-Documents which are uploaded by issuers in a standard format and exposing a set of standard APIs for secure real-time search and access.
  • Access Gateway: It provides a secure online mechanism for requesters to access e-documents from various repositories in real-time using e-Document URI (Uniform Resource Indicator).
  • URI: It is a link to the e-Document uploaded by an issuer in a repository. The gateway will identify the address of the repository where the e-Document is stored based on the URI and will fetch the e-Document from that repository.

 Stakeholders of DigiLocker:

  • Issuers:  Issuer is an entity issuing e-documents to individuals in a standard format and making them electronically available. For example, Registrar office, Income Tax department, RTO, Educational institutions etc.
  • Requesters: Requester is an entity requesting secure access to a particular e-document stored in the repository. For example, Employers, Universities, Passport Office etc.
  • Residents: An individual who uses the Digital Locker service based on Aadhar and OTP (one time password) authentication.

Digital Locker Portal:

Online portal of digital locker system is developed in collaboration with web development companies in India.

  • Dedicated 10MB free personal storage space, linked to each resident's Aadhaar, to securely store e-documents and to store URI link of e-documents for accessing them directly from the repositories.
  • Sharing of secured e-documents with requesters.
  • Currently accessible via web portal, will be made accessible through mobile application also.
  • Integrated e-Sign service to digitally sign documents

How to use DigiLocker :

  • Enter Aadhaar Number. After inserting aadhar card id number, an OTP is sent to already registered number and email address.
  • Enter OTP and see the DASHBOARD to upload your current documents online.
  • After successful of upload process, e-sign the uploaded document, which is used as official digital signature on documents.

Conclusion:

DigiLocker is an application that has been developed by software development company in India recently launched by Indian government to store online documents safely. UIDAI adhaar card holder can save online all government issued documents on the cloud storage system of 10MB space. By connected aadhar number users can access these.