India explores blockchain framework

India is exploring a potential National Level Blockchain Framework which will support the scaling up and wider deployment of the technology.

The move comes after the minister of electronics and information technology Shri Sanjay Dhotre noted blockchain as one of the important research areas.

Plans are to evolve an ecosystem around fostering blockchain technology adoption, developing and piloting blockchain-based applications in governance, finance, banking and cyber security, and conducting research around issues and challenges posed by the technology.

Additionally, the government is looking to increase the development of blockchain technology and build a framework for the technology.

Earlier this month, France’s first deputy governor Denis Beau called for the use of digital currency and distributed ledger technology (DLT). The suggestion came as a way of improving the current cross-border payment process.

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