Indian authorities form a committee to attract the government to the blockchain technology.
As we reported in July, an Indian state Telangana had already known how to use blockchain in the political sphere. Now, it is a formed committee which is going to explain the rest of the government the importance and necessity of the technology.
Committee Chairwoman Tina Singh stressed that blockchain technology would change the world and added:
"Blockchain is undeniably the technology of the future, slated to bring decentralization, trust and accountability into multiple areas of business. However, in order to be more effective and enter the mainstream, blockchain technology needs the intervention of government bodies, regulatory authorities and corporates.”
According to the committee residence, Prasanna Lohar, blockchain will bring trust in the economy, however, it needs to be regulated with proper frameworks.
India also might launch its own state-backed cryptocurrency, Lakshmi, in the nearest future. It seems that the government has already started to examine blockchain technology.