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Speaking at the Indian Science Congress, Prime Minister Narendra Modi stressed the importance of blockchain for various Indian sectors. This is the fourth time when he talked about blockchain.
The procession of Prime Minister Narendra Modi with blockchain also continues in 2019. Last year he spoke about the importance of blockchain technology for India in various events and now, in the first week of the new year, he once again spoke of the matter. Will this be the beginning of a new order for the country's blockchain startups?
The Prime Minister was speaking at the Congress of Indian Sciences when he mentioned the term blockchain among the various technical terms that are important for any modern economy. He said:
"By bringing 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 ".
The last time PM spoke of Blockchain was back in October. At that time he had mentioned the term along with other technologies and said that these technologies have the potential to bring the lives of every Indian to new highs. Previously, in May, he emphasized the role that the blockchain can play in the agricultural sector during the convocation ceremony of the University of Science and Agricultural Technologies (SKUAST) in Sher-e-Kashmir. And he also talked about the positive prospects of Blockchain at the NASSCOM summit in Hyderabad on the 19thth of February. So he repeated the government's positive approach to the blockchain about 4 times.
However, at the same time it is not easy to register a blockchain company in India. Many of the startups that enter this space register themselves as Internet companies or software companies to avoid unnecessary control by the authorities, and its government has not yet come out with the regulation of cryptocurrencies, which are an important part of the industry. blockchain infrastructure. While the government itself has implemented blockchain technology in a couple of areas, it has been done with the help of foreign companies since not many blockchain startups have flourished in India due to unnecessarily stringent regulations. In fact, many of the blockchain or crypto startups found here are now moving their bases to other countries for simpler operations. Let's see if the government talks to you soon or not!
