MUMBAI, India, Jan. 2 -- Intellectual Property India has published a patent application (202541122223 A) filed by Vellore Institute Of Technology, Vellore, Tamil Nadu, on Dec. 4, 2025, for 'blockchain-based government fund allocation and tracking system.'
Inventor(s) include Dr. S M Farooq; Pranav; and Patankar Nahush Amol.
The application for the patent was published on Jan. 2, under issue no. 01/2026.
According to the abstract released by the Intellectual Property India: "The present disclosure provides a blockchain-based government fund allocation and tracking system. The system includes a blockchain network configured to execute smart contracts for automated fund disbursement, a database configured to store mutable metadata including user information and transaction status, smart contracts configured to process fund transfers with automatic validation, a role-based access control mechanism providing differentiated access permissions, a digital signature verification module configured to authenticate fund transfer operations, and a public interface configured to display fund allocation data accessible to citizens without authentication. The blockchain network utilizes an Ethereum Sepolia testnet for executing smart contracts that validate digital signatures and wallet addresses before processing fund transfers. The role-based access control mechanism provides Admin users with fund request creation, Member users with fund transfer initiation, Beneficiary users with fund receipt capabilities, and Citizen users with public dashboard access."
Disclaimer: Curated by HT Syndication.
