The latest update as regards the controversial Indian Crypto Bill sees the Finance Minister, Nirmala Sitharaman noting that the crypto bill is in anvil. Also, it will soon be ready for approval by the cabinet.
More so, she states the juxtaposition of the government’s concerns about the decentralise industry. Of course, with their plan to fully avail the financial benefits of the blockchain technology.
Also, she confirms that the “Cryptocurrency bill will take into account the underlying technology”.
Additionally, The Indian government seems to be on the right path financially. Of course, with the richest man in all of Asia, Mukesh Ambani vouching for the same technological advancement with the blockchain.
Furthermore, while speaking at a forum by India’s International Financial Services Centres Authority together with Bloomberg. More so, he argues the potential of blockchain technology, saying “Blockchain is the technology I believe in and it is different from crypto”.
Also, Ambani says that India will witness a crypto evolution in its
“fintech, education technology, health technology, and industry” via digital services.
More so, he makes a comparison with the power of data to former days’ oil. Then, confirms the only difference is the data’s easy accessibility.
“Digital technology, I believe, is a great leveler, a great democratizer…”
“The new oil, i.e. data, can be generated and consumed everywhere and by everybody…”
“It has the potential to create value equitably across sectors, geographies, and economic classes.”
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