Indian government experimenting with blockchain technology at national level

The Minister of State for Electronics and Information Technology of India said that the Govt.prepares a document that examines the potential of distributed ledger technology and the requirements for a common infrastructure for various use cases.

Minister Sanjay Dhotre addressing membersParliament of India, paid special attention to blockchain technology. He identified technology as one of the important areas of research with potential applications in various fields such as management, banking and finance, and cyber security.

Sanjay Dhotre also announced the creation of the project,which is aimed at researching blockchain and potential use cases for the technology. As part of the project, the institution conducted several pilots, including testing of academic certificate authentication, vehicle life cycle and registry management in the hotel industry.

India’s efforts were commented on by the CEO of the startup Wazirx acquired by Binance. He wrote on Twitter that a blockchain without cryptocurrencies is not a public blockchain.

Day 392

Good progress!

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 also adheres to 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.