Although the government has been very dumb about the scene of cryptocurrency in India, they’ve gracefully adopted the blockchain technology and are now planning to use the same for digital certification of education degrees. The government plans to pull this off with their first use of technology in a trial project at IIT-Bombay starting in 2019. These trials will be the first implementation of IndiaChain which is the blockchain technology to hand out degrees in India. This is expected to be implemented in the Indian Institute of Technology and some other colleges of Delhi University.
The reports further suggest that the project is being developed under the central government initiative, Niti Aayog. The government has also thought about implementing the technology for maintaining land records and not limit the technology to educational degrees. However, this is still a farfetched idea and is being worked upon.
During the Budget announcement on February 1st, the Finance Minister Arun Jaitley had made it clear that although the government is not very much for the cryptocurrency, it is always willing to adopt the blockchain technology to develop different solutions.
While the word on cryptocurrency is not yet clear, the government has announced that they will take all measures to eliminate the use of crypto-assets in financing illegal activities. The government will also be exploring the use of blockchain technology for improving digital payments.
Image source: Factordaily
Excellent steps being taken by Niti Aayog! ✌
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