With reference to "Blockchain Technology", consider the following statements:
- 1.It is a public ledger that everyone can inspect, but which no single user controls.
- 2.The structure and design of blockchain is such that all the data in it are about cryptocurrency only.
- 3.Applications that depend on basic features of blockchain can be developed without anybody's permission.
Which of the statements given above is/are correct?
Answer & explanation
Answer: (d) 1 and 3 only
A blockchain is a shared, tamper-resistant record spread over many computers, so no single person owns or controls it, and on an open (public) blockchain anyone can read it and build on it. It is not limited to cryptocurrency: it can hold any kind of record.
- ✓ 1. A blockchain is a shared database distributed across a peer-to-peer network, so no single entity can own it or change its data alone. On an open blockchain like Bitcoin, anyone can read the record.
- ✗ 2. Blockchain was first used for Bitcoin, but the design is general. NITI Aayog ran pilots on subsidy claims, pharmaceutical supply-chain tracking, university certificates and land records, none of which is cryptocurrency.
- ✓ 3. A public (permissionless) blockchain has no central authority granting access, so developers can build applications on its basic features without anyone's approval. Only permissioned blockchains restrict access and editing rights.
Remember · Blockchain = shared ledger with no single controller; not only for crypto; public chains are open to read and to build on.
Sources
- NITI Aayog, Blockchain: The India Strategy, Part I (discussion paper, January 2020) ↗ “Blockchains create trust by acting as a shared database, distributed across vast peer-to-peer networks that have no single point of failure and no single source of truth, implying that no individual entity can own a blockchain network … Claim verification and approval in the disbursement of fertilizer subsidy 3. Verification of university certificates 4. Transfer of land records … Public blockchains, like Bitcoin, have no central authority and are regarded as enablers of total disruptive disintermediation. Permissioned blockchains are hosted on private computing networks, with controlled access and editing rights”
Question and answer: UPSC's official GS Paper I (2020, Series A) — paper ↗ · answer key ↗. Explanation: Minimalist IAS, checked 30 Sept 2026 (how we verify). ·