The ruling Indian political party Bharatiya Janta Party (BJP) is being accused of money laundering through Bitcoin by another, The Indian National Congress (INC) party, the largest one in the country. Congress Party claims that the BJP is converting “black money” in the Western state of Gujarat. INC spokesperson Shaktisinh Gohil stated that the accused party’s leadership was involved in a bitcoin scam which is worth between $727 million and $12.79 billion. read more
The South Indian State of Kerala will utilize Blockchain to distribute dairy products, vegetables, and fish. The Development and Innovation Strategic Council (K-DISC) is heading the project which will also use the Internet of Things (IoT) technology to make the supply network work efficiently. read more
As a blockchain innovation trailblazer in the subcontinent, the Indian state of Telangana has signed MoUs (Memorandum of Understanding) with diverse blockchain-based startups and experts to enlarge the use of the prospering technology in administrative operations.
Making State Administration See-Through
Telangana's I.T. and Industries head Jayesh Ranjan mentioned the implementation of blockchain in "six or seven" government applications. Previously, the state had tested blockchain-based land registry and pension platforms to increase transparency and decrease the risk of frauds in two spheres dominated by intermediaries. read more
A state government in India is teaming up with a global IT services giant to establish a district devoted solely to blockchain startups.
Favorable Blockchain Environment for Newbies
The information technology department of the Telangana state government signed a Memorandum of Understanding (MoU) with Tech Mahindra thus setting in motion the construction of what they call the country’s first "blockchain district."
India might launch its own government-backed cryptocurrency that would make the crypto-situation difficult for any other altcoins.
The finance ministry panel was established in December 2017 to regulate cryptocurrency. The plan that regulates the crypto industry in India had to be presented in July but was deferred to the end of the year.
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.