PM Narendra Modi talks about the importance of Blockchain

Of& nbspPrashant Jha

Prime Minister of India, Mr. Narendra Modi has faced public and economist scrutiny over his demonetization of the financial debacle, as well as poorly executed GST. However, its focus on blockchain and its implementation could be the trump card for the upcoming 2019 elections.

The Indian government has been cautious about the boom in encryption all over the world and has maintained a tough attitude about it. The finance minister, while talking about cryptocurrencies, said that unless technology becomes infallible, people must refrain from investing or exchanging cryptocurrencies. The Indian government has already labeled cryptocurrency as an illegal entity in the financial sector.

Mind you there is a big misunderstanding among the public that the government has banned the cryptocurrency, however, it is not true, the government does not recognize the digital asset as an entity, just like many other countries that do not they are sure of the security aspect of cryptocurrencies.

PM Modi Talcha Blockchain at the Indian Science Congress

PM Modi, while attending the Indian scientific congress, spoke about various technical aspects and innovations that would shape the future of economies. In touching the various topics, Modi also mentioned the importance of blockchain and its implementation for the real world. He said:

"Bring big data, artificial intelligence and blockchain to solve the biggest challenges of India: the needs of health care, agriculture and development can only be done by our scientists and engineers".

However, this was not the first time that Modi mentioned Blockchain or talked about the subject in public. Only last October, he was talking about the importance of Blockchain and how implementation could bring new lives to the Indians.

Modi spoke about the importance of Blockchain in the agricultural sector, and to be honest is the need for the now, since the condition of Indian Farmers has gone from bad to worse in the last 5 years of its tasks, with thousands of peasant people who commit suicide, since they could not repay the loans through the production of the season.

Final thoughts

The Indian governance is plagued by intermediaries and corrupt people, in the absence of a true agricultural policy of independence, farmers are still at the lowest levels of the chain. To give you a better perspective, every other occupation, whether it be teachers, politicians, industrialists or government employees, has seen their revenues increase many times since independence in 1947, but farmers are becoming poorer every year. year, they are not even able to meet the basic food and water services.

So, hopefully, the Prime Minister and the government realize that just talking about innovations in public events will not change reality at the grassroots level unless some solid revolutionary ideas like blockchain are implemented correctly.

Prashant Jha

As a content writer, Prashant believes in presenting complex topics in simple terms such as laity. He is passionate about technology and an avid reader.