Big Tech Companies In India Pledge To Apply Blockchain To Solve Real Problems Faced By People

The Reserve Bank of India may not be a fan of cryptocurrency, but luckily they haven't blindly demonised blockchain technology as well.

Now, one of the biggest non-profit groups in India is looking to adopt it to further other areas of development.

Yesterday, the Internet and Mobile Association of India tweeted to announce it's forming a blockchain committee to identify challenges where it can be applied. They say they'll be working alongside the government and startups, so hopefully this will not only generate jobs, but also help upskill Indian professionals.

IAMAI Forms Committee For #Blockchain . The group will identify opportunities and challenges and work with government, industry and #startups to develop the ecosystem. https://t.co/Ciu10RV7Kf @SecretaryMEITY @FinMinIndia @PMOIndia

¡ª IAMAI (@IAMAIForum) October 16, 2018

"Blockchain is undeniably the technology of the future, slated to bring decentralization, trust and accountability into multiple areas of business," the blockchain committee's chairperson, Tina Singh, told Economic Times. However, in order to be more effective and enter the mainstream, blockchain technology needs the intervention of government bodies, regulatory authorities and corporates.

Image courtesy: FlyerDiaries.com

"The IAMAI Blockchain Committee will focus on creating dialogue between all stakeholders; curate and create content to aid skill development and move towards creating a participative economy with the usage of blockchain."

The blockchain committee is comprised of representatives from tech companies like IBM, Microsoft, Mastercard, and more.