India joins forces with Canada to bring ‘Blockchain revolution’ to India
The Indian National Association of Software and Services Companies (NASSCOM) partnered with Canada’s Blockchain Research Institute (BRI). On 21st February, these two institutions officially became partners by signing the Memorandum of Understanding (MoU).
This partnership will assist the Indian institution in investigating blockchain technology and the ways it can be implemented in India. NASSCOM will be able to work with Canadian government-backed BRI researchers.
The NASSCOM Chairman Raman Roy says,
“……….focused on the creation of a world-class sustainable blockchain ecosystem in India that will help enhance our vision for a digital economy. We believe blockchain is a transformative technology for businesses. It is imperative that we identify and explain key application opportunities, issues, strategies and approaches that enable companies and governments to capitalize on this emerging technology.”
Don Tapscott, Founder and Chairman of BRI says,
“We see our coalition with NASSCOM as a delightful opportunity to nurture the blockchain community in India. We strongly believe that India has the potential to lead the blockchain revolution.”
Rajesh Nanda, a blockchain enthusiast from India commented,
“This partnership will hopefully bring awareness and insight to a large number of people in India. A country like ours need proper guidance when it comes to blockchain technology and teaming up with a country like Canada shows nothing but promise.”
Shashvat Singh from India says,
“Blockchain technology has huge potential to improve governance in India. Its adoption could lead to better crop health monitoring, health records & manufacturing inventory management, digitisation of land records, reducing pendency of cases in courts, etc.”
Narendra Modi, Prime Minister of India says,
“… technologies such as Blockchain and the Internet of Things will have a profound impact…… They will require rapid adaptation in our workplaces.”
This news from the PMO broke out few weeks after Mr. Arun Jaitley spoke about how the government will clamp down on cryptocurrency as a form of payment for illicit and illegal activities. The Indian, US, South Korean, Japanese and Russian governments over the past two months have shown acceptance of the blockchain technology. Analysts predict the widespread fear of cryptocurrencies being banned will now simmer down and it would reflect in the cryptocurrency prices shooting up.
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