Indian State Minister of Electronics and Information Technology said the government prepares a document that examines the potential of distributed ledger technology and the requirements for a common infrastructure for various use cases.
Minister Sanjay Dotre addressing membersParliament of India, focused on blockchain technology. He identified technology as one of the important research areas with potential applications in various fields such as management, banking and finance, and cybersecurity.
Sanjay Dotre also announced the creation of the project,which aims to study the blockchain and potential cases of using technology. Within the framework of the project, the institution conducted several pilots, including testing the authentication of academic certificates, the life cycle of vehicles and managing the registry in the hotel business.
India’s efforts have been commented on by the CEO of the acquired Binance Wazirx startup. He wrote on Twitter that blockchain without cryptocurrencies is not a public blockchain.
A recent question in Lok Sabha asked about Government efforts in Blockchain
Response was that MeitY is working on a national blockchain policy.
Reminder: Blockchain without Crypto = No Public Blockchain
Dear @narendramodi @nsitharaman #IndiaWantsCrypto
- Nischal (WazirX) ⚡️ (@NischalShetty) November 28, 2019
India follows China
Earlier, Chinese President Xi Jinping said thatChina should seize the moment, and conquer blockchain space as soon as possible. At the same time, China has not supported cryptocurrencies, having previously introduced a ban on ICOs and crypto exchanges in the country.
India holds the same position. The Central Bank of India has banned all banks from providing crypto services in the country. However, today the case is still pending before the country's supreme court.