Blockchain Finally Will Soon Applied In India By The Reserve Bank of India

Author - Oct 23, 2018


Blockchain Finally Will Soon Applied In India By The Reserve Bank of India

The Reserve Bank of India has shown their interest in the blockchain technology, which slightly surprises people in the country.

A few days ago, the Reserve Bank of India has shown their interest in the blockchain technology, which slightly surprises people in the country as well as most of the blockchain entrepreneurs.

The Reserve Bank of India

Reserve Bank of India has been against the cryptocurrency for a while. Contrary to their anti-cryptocurrency opinion, recently the Reserve Bank of India is considering letting a big non-profit group in the country use the blockchain technology in several development areas of the nation.

On October 16th, the twitter account of the Internet and Mobile Association of India (IAMAI) has posted a tweet announcing a surprising statement. According to the post, a blockchain committee is being formed by the IAMAI. The technology will be used for any tasks that it has the ability to handle, as well as identifying which aspects will need it to be applied.

Inside a Chinese bitcoin mining company

In addition, the IAMAI claimed that they are going to work with the India government as well as startups to develop this technology. Therefore, it is not only just a work of bringing one of the most effective systems at the moment to help solving business problems in India, but also a good opportunity for people to be employed.

On the other hand, IAMAI’s work is hoped to give chances for professionals in India to improve their current skills.

Chairman of the blockchain committee Tina Sigh answered the Economic Times blockchain definitely is a futuristic technology. The system has the ability of decentralization various business areas, as well as handling accountability and trust-related problems.

Blockchain system

However, despite blockchain technology’s amazing benefits, intervention from authorities’ regulations as well as the India government and corporates is still needed to help the system enter the mainstream. Hence, the technology will be able to become more effective and take part in any business process it can involve.

Comments

Sort by Newest | Popular

Read more

How To Watch Marvel Movies In Order: By Chronology And Release Time

Features- Mar 05, 2021

How To Watch Marvel Movies In Order: By Chronology And Release Time

If you don't know how to watch Marvel movies in order, this post will help you out. Just follow the order here and you will not be confused with the MCU.

Oppo Find X2 Review: A Premium Phone With Plenty Of Power

Mobile- Mar 05, 2021

Oppo Find X2 Review: A Premium Phone With Plenty Of Power

The Oppo Find X2 shares the same ports and screen specs as the OnePlus 8 Pro. However, it sports a high-gloss glass back instead of a matte finish

You Can Now Transfer Photos From iCloud To Google Photos

ICT News- Mar 05, 2021

You Can Now Transfer Photos From iCloud To Google Photos

Apple has launched a new service expected to help users transfer pictures and videos more easily from iCloud to Google Photos.

Mumbai 2020 Power Outage Might Be A China's Cyberattack, India Official Claims

Features- Mar 05, 2021

Mumbai 2020 Power Outage Might Be A China's Cyberattack, India Official Claims

The huge power outage Mumbai suffered last year might be the result of a cyberattack from China targeting the city’s infrastructure

Realme Narzo 30 Pro 5G: A Powerful Phone At A Reasonable Price

Mobile- Mar 06, 2021

Realme Narzo 30 Pro 5G: A Powerful Phone At A Reasonable Price

A fan of Realme? Here is all the information that we have got for the Realme Narzo 30 Pro 5G, from its release date, price, to specs.

These Are Best Phone To Play PUBG Under 10000, 20000, And 30000

Mobile- Mar 05, 2021

These Are Best Phone To Play PUBG Under 10000, 20000, And 30000

If you are in search of the best phone to play PUBG, here are our best picks for the three most popular price ranges, ₹10,000, ₹20,000, and ₹30,000.