The Government of India has announced plans to create a new National Level Blockchain Framework, supporting the development and integration of technology. India followed similar decisions made last month by Chinese President Xi Jinping, which leads the country to world leadership in an emerging industry of blockchain.
According to a letter published on Wednesday by the Indian Ministry of Electronics and Information Technology (MeitY), the government stresses the need to develop a shared infrastructure. Sanjay DOTHRE, the Minister of State for Electronics and Information Technology, commented on the initiative:
“(MeitY) has identified Blockchain Technology as one of the important research areas having application potential in different domains such as Governance, Banking & Finance, Cyber Security and so on. MeitY has supported a multi institutional project titled Distributed Centre of Excellence in Blockchain Technology with C-DAC, IDRBT and VJTI as executing agencies.”