Blockchain Committee Formed By Internet And Mobile Association Of India

Blockchain, News | October 16, 2018 By:

The Internet and Mobile Association of India (IAMAI) has formed a blockchain committee to help the technology fulfill its potential of facilitating job creation for the new economy in the country.

IAMAI is a not-for-profit industry body mandated to expand and enhance the online and mobile value added services sectors in India. The organization also put forward the problems and requirements of the businesses to the consumers, shareholders, investors and the government of India.

The new blockchain committee, which will be headed by Tina Singh, Chief Digital Officer of Mahindra Finance, will identify opportunities and challenges and work with government, industry and startups to develop the domestic blockchain ecosystem. It will also help drive training workshops to familiarize potential users with the technology.

Singh said that blockchain is undeniably the technology of the future, slated to bring decentralization, trust and accountability into multiple areas of business. However, she said 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 dialogue between all stakeholders, curate and create content to aid skill development and move towards creating a participative economy with the usage of blockchain,” said Singh.

Prasanna Lohar, Co-chairperson Blockchain Committee, IAMAI & Head –Innovation and Architecture,- DCB Bank Limited, said that post demonetization, UPI, GST and many other movements in innovations, blockchain would be “radical change agent” in India.

“Blockchain adoption will be achieved through building trust in the economic, social and environmental potential of the token and blockchain economy,” Lohar said. “To reap blockchain benefits, however, the technology will need to be developed responsibly within the right regulatory frameworks.”

In recent months, bockchain is the buzzword when it comes to announcing new projects in India, especially government-backed ones. Last week, Indian Prime Minister Narendra Modi said that blockchain can take India to new heights of development and improve people’s quality of life.