Blockchain Will “Have A Profound Impact On The Way We Live” – India’s PM Narendra Modi

Blockchain, News | February 20, 2018 By:

India’s Prime Minister Narendra Modi said that disruptive technologies such as blockchain will bring seismic changes to India’s society.

Speaking at the World Congress on Information Technology (WCIT) 2018 forum in Hyderabad, Modi said that disruptive technologies such as blockchain will “have a profound impact on the way we live and work” in the future.

Modi’s speech comes as India is increasingly focused on regulating cryptocurrency, one of the engines of blockchain. His speech was designed to at least assure some of the blockchain community that India values some of what they do, even as it clamps down on initial coin offerings and cryptocurrency, the technology’s twin engines.

“We will require rapid adaptation in our workplaces,” said Modi. “Skilling citizens for the workforce of the future is important. In India, we have launched the National Skill Development Mission to prepare our children and youth for a productive and bright future. We also need to ensure that our existing workforce is able to re-skill as new technologies emerge.”

The Indian prime minister also pointed out that technology is breaking down geographical limits and roadblocks.

“Technology will help us create a seamlessly integrated world,” Modi said. “A world where geographic distance no longer remains a barrier in cultivating a better future. Leveraging technology in such a holistic manner was unthinkable some years ago. We have successfully completed this life-cycle in the last three and a half years. This has been possible through a change in public behaviour and processes.”

The WCIT event was attended by representatives of over 80 countries’ IT industry associations, altogether representing over 90% of the world’s information and communications technology (ICT) industry as the WITSA consortium.

During the event, the National Association of Software and Services Companies (NASSCOM), India’s IT trade association, announced a platform for skills development in eight varied technologies, including blockchain.

Nasscom president R. Chandrashekhar said they aim to skill and up-skill about two million technology professionals and skill another two million potential employees and students over the next few years.

The prime minister complimented Nasscom for identifying these key technologies and said that “the skills of future platform will greatly help India maintain its competitive edge.”