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Another Indian State Proposes Regulation for Blockchain and AI
31 October 2019 12:10, UTC
Another Indian state has proposed legislative action for regulating and ensuring safety in dealing with blockchain technology as well as Artificial Intelligence. Tamil Nadu, the 10th largest state in India has already started drafting the legislation after conducting months of research for the ethical use of modern technologies such as AI.
The blockchain technology could very easily be adopted on state-owned databases to ensure safety and transparency from government officials.
The Chairman of Tamil Nadu’s e-Governance Agency, Santosh MISRA commented that the regulation of blockchain and AI will give the government guarantee in ensuring the ethical usage of the technologies. Due to the fact that there has been very little presence of this technology in India, it would be best to retain it in a controlled environment.
India’s past with the blockchain technology is quite mixed. In the summer of 2019, the country was embroiled in controversy when word spread about a potential ban on cryptocurrencies. Should India had banned cryptocurrencies country-wide it would deprive the market of hundreds of millions of potential traders.
As for the legislation happening in Tamil Nadu, it’s definitely not the first one of its kind in the country. States such as Maharashtra, Telangana and Andhra Pradesh, which are significantly larger than Tamil Nadu have already implemented regulation for the blockchain technology, even if it’s just targeting cryptocurrencies. Whether or not country-wide legislation is adopted in India remains to be seen.
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