Indian Gov’t Working on National Blockchain Strategy

Asia Blockchain Review
December 6, 2019

The Indian Ministry of Electronics and Information Technology (MeitY) has announced that it is working on the “National Level Blockchain Framework,” emphasizing blockchain’s potential and the need for a shared infrastructure to put the technology to use.

Indian States Begin to Embrace Blockchain

As reported by Cointelegraph, the Indian state of Tamil Nadu was in the process of drafting a state-level policy for AI and blockchain. The policy is expected to lay out the ground rules for the state government’s application of these emerging technologies for providing public services and tackling problems of governance.

In the Southern Indian state of Telangana, a draft blockchain policy initiative was released earlier this year in an attempt to create an ecosystem for blockchain research and business. The initiative reportedly focuses on projects developing blockchain-based applications for pharmaceuticals, logistics, banking, and financial sectors, as well as solutions for government agencies.

Sanjay Dhotre, Minister of State for Human Resource Development, Communications and Electronics, and IT, has praised blockchain’s capability and potential in various sectors, including cybersecurity, governance, finance, and banking.

Indian Gov’t Remains Hostile Towards Crypto

Despite the adoption of blockchain in many Indian states and the national blockchain strategy, the government has yet to accept cryptocurrencies. 

In July this year, the administration indicated its intention to prohibit cryptocurrencies in the country through the draft bill, “Banning of Cryptocurrency & Regulation of Official Digital Currencies.” However, the bill introduces a “Digital Rupee” to be issued by the Reserve Bank of India — the country’s central bank.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain Enables Verification of COVID-19 Immunity
Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

November 21, 2020

Illicit Cryptocurrency Activity: A Concern
Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

November 20, 2020

IBM Using Blockchain to Help Businesses Reopen during COVID-19
IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

November 20, 2020

Canadian Pacific Railway Collaborates with TradeLens
Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

November 19, 2020

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us