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India plans to utilize blockchain tech to improve the financial system
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India is planning to utilize blockchain technology to improve the financial system as well as integrating new government schemes. The government officials are against the cryptocurrency but are on board with blockchain technology.

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According to several reports, India will integrate blockchain technology into many sectors, including education and financial. This will be done through an introduction and talent pool of professionals who have expertise in blockchain technology. The ongoing adoption of blockchain technology could result in an increasing number of jobs in Bangalore and other parts of the country.

 

“We are looking for intelligent use of blockchain.”

The State Electronics and IT secretary of Kerala state, M Sivasankar, talked about the future development and potential of blockchain technology. He said that they are looking for intelligent use of blockchain in specific domains in the next five years so that its applications can be sustained. He added that companies that produce solutions based on technology can sell it as products and services.

 

Reserve Bank of India defends its decision to ban cryptocurrencies.

The Supreme court of India is currently hearing petitions filed by cryptocurrency supporters against the Reserve Bank of India for suspending banking support to crypto businesses. The RBI defended its decision saying that it suspended banking support for crypto trading to protect financial institutions from being subjected to risks associated with the asset class. The Supreme court will decide whether the RBI’s decision to suspend banking services for crypto trading was constitutional or not.

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Arun A
Arun A
Arun is a writer by day and a reader by night. He is on a mission to stamp out gobbledygook and to highlight the insider stories about startups and entrepreneurs around the country.

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