IAMAI Forms Blockchain Committee In India To Help Overall Ecosystem

The Internet and Mobile Association of India (IAMAI) has formed Blockchain Committee in India. IAMAI will put its endeavors to encourage job creation for the new economy in the nation.

This group was formed with the prime agenda of recognizing opportunities and challenges for Blockchain technology. It will work with government, industry and startups to encourage the overall ecosystem. The committee will organize training workshops and help enthusiasts to learn more about the technology.

Tina Singh, Chairperson, Blockchain Committee of IAMAI and Chief Digital Officer at Mahindra Finance stated, “Blockchain is undeniably the technology of the future, slated to bring decentralization, trust and accountability into multiple areas of business. However, in order to be more effective and enter the mainstream, blockchain technology needs the intervention of government bodies, regulatory authorities and corporates. The IAMAI Blockchain Committee will focus on creating a dialogue between all stakeholders; curate and create content to aid skill development and move towards creating a participative economy with the usage of Blockchain.”

According to the figures, there were 127 blockchain and cryptocurrency startups in India until April 2018. Of these, 31 are Blockchain smart contract companies, 43 are cryptocurrency companies and 15 exchanges.

The blockchain industry has raised nearly $5.3 million this year. The companies like Nuo Bank and ZenPrivex are the examples of these. 90% of these organizations are under a year and a half old and have collected no cash yet.

As reported by Yourstory, members of the blockchain committee include Manish Gupta, Director – Digital Transformation, Mastercard, Samiran Ghosh, Chief Digital Advisor, Microsoft, Jitan S Chandanani, Blockchain Offerings and Engagement Leader – ISA, IBM, Ravi Chamria, Founder, Sofocle Technologies, Sandeep Goenka, Founder, Zebpay, S Venkat Kumar, Vice President, Kotak, Nitin Chug, Country Head – Digital Banking, HDFC Bank, among others.

As reported by Indiaweb2, Blockchain Technology is growing enormously in India. India has already become a hotbed for blockchain experiments across IT, telecom, finance, supply chain, and many other sectors. The members of Hyperledger, an open source collaborative effort created to implement blockchain technology in various industries are based in India.

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