Indian Government Developing a National Blockchain Strategy

Posted on Nov 27, 2019

Earlier today the India Times reported that the Indian government is currently developing a blockchain strategy which is to be adopted nationwide. Sanjay Dhotre, the Minister of State for Electronics and IT, has observed the potential of using blockchain technology across governing and finance sectors. The Ministry of Electronics and Information Technology has confirmed their plan of action to create a framework for blockchain adoption at a national level, after acknowledging the opportunities that blockchain technology can bring about.

Certain states in India have already begun taking their own steps toward the adoption of blockchain technology. Telangana, a state that lies in South India, has put forward a draft of their plans to create a framework for startups and research sectors. The core of their plans lies with the development of blockchain applications for a range of sectors from banking to logistics. Another state currently developing their own policy is Tamil Nadu, with their focus on creating regulation for the use of blockchain technology in providing solutions to governing problems and delivery of service.

India has an ever-growing relationship with blockchain technologies, demonstrated by its plans to create an ecosystem that can be shared across the nation. However, the country does not shed the same positive light towards cryptocurrency as it intends to pass legislation for the ban of crypto in India.