The Indian government is expected to issue a national strategy for blockchain technology usage. The government sees the usage of this technology as a necessity for its economy. The government is, however, opposed to the usage of cryptocurrencies.
India Ministry of Electronics and Information Technology (MeitY) is preparing a strategy for nationwide usage of the blockchain technology. The strategy is aimed at increasing usage of the technology nationwide and also educating people on the power of this technology.
The Ministry also highlighted the need for nationally shared infrastructure accessible for people who want to implement the blockchain technology. There will also be a “National Level Blockchain Framework,” according to the ministry officials.
The need for blockchain technology in India
Sanjay Dhotre, the Minister of State for Human Resource Development, Communications and Electronics and IT, noted that usage of blockchain in areas such as governance, banking, finance, and cybersecurity would have tremendous benefits to the Indian economy. Sanjay also indicated that it would also boost the affected industry, which would also see growth due to increased integration of technology.
India has been at the forefront of implementing blockchain technology with some of its states already using blockchain technology. Tamil Nadu, for instance, recently implemented a statewide policy for artificial intelligence and blockchain technology. These policies lay the ground rules on how the state government will be able to integrate these technologies in their day to day activities.
The usage of blockchain has also been implemented in other states such as Telangana, which also has blockchain policy. Blockchain startups are also opening in India and increasing investments in the industry. The government’s latest move underpins its open-minded policy towards blockchain technology.
India, however, has not been kind on cryptocurrency and has done everything in its power to limit its usage. In July, there was a proposed bill titled “Banning of Cryptocurrency & Regulation of Official Digital Currencies,” that aimed at banning the usage of cryptocurrency in the country. Opposition to cryptos is still going on and there is no little optimism that the government of India will ever accept the usage of cryptocurrencies in the country.
How about 20 ways of improving education?
While there is reticence in certain quarters in the implementation of technology as affecting the youth, consider the boon of blockchain technology, in fact, twenty ways of improving education.
Researchers in the field believe that blockchain technology has much more to offer and can actually revolutionize and “undercut the educational institutions’ central role as certification agents and provide students with more learning opportunities.” But as with all technology, education leaders need further proof that secure distributed ledger technology is ready for prime time.
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