India’s Prime Minister Narendra Modi has spoken out in favor of giving support to distributed ledger technology (DLT), outlining its potential to change lives.
Modi sees emerging technologies such as blockchain boosting the Indian economy and creating a more buoyant employment landscape which could change the lives of “the last person waiting in the queue”.
These are encouraging words for an industry which is seen to be struggling this year, not helped by a controversial crypto ban which is under enforcement, and a sluggish performance to date by the government in passing helpful blockchain legislation.
These new comments could mark a positive change for the development and legislation of blockchain technology and help in retaining the skill needed to push into mainstream adoption across the sectors. A recent move in Hyderabad to create a blockchain district show some state governments’ willingness to take the next step. The Hyderabad project would see multinational IT services provider Tech Mahindra join forces with Telangana state government for the construction of the hub in the state capital.