The CoE is expected to revolutionize the blockchain incubation ecosystem by fostering R&D innovation and entrepreneurship while nurturing start-ups to build indigenous products. The most exciting feature of blockchain is that it dramatically reduces the possibilities of a data breach.

The centre has been established under the aegis of Software Technology Parks of India (STPI), in association with the Ministry of Electronics and Information Technology (MeitY), Government of Haryana, Government Blockchain Association and several blue-chip companies and top- tier academic institutions.

Software Technology Parks of India (STPI), run by the Indian government, launched Apiary, a 7,000 square foot Centre of Excellence (CoE) in Blockchain in Gurugram on Sunday in association with the Ministry of Electronics and Information Technology (MeitY), the Government of Haryana, the Government Blockchain Association (GBA) and several companies and academic institutions, according to a press releaseby STPI.