Blockchain Receives Government Support In India as Officials Participate in Blockchain Summit

Home » Adoption » Blockchain Receives Government Support In India as Officials Participate in Blockchain Summit
March 1, 2019 by
Blockchain Receives Government Support In India as Officials Participate in Blockchain Summit

The first edition of the Vision Blockchain 2030 initiative, Blockchain Summit India 2019 successfully concluded at IIM Lucknow Noida Campus on February 23 2019.

The summit was inaugurated with welcome messages from Shri Suresh Prabhu (Hon. Minister of Commerce and Industry, Government of India), Mr. Sanjay Kumar (Chief General Manager, HPCL), Mr. Nitin Seth (CEO, Incendo Inc. & Ex-COO Flipkart), Prof. Akbar Ansari (IIM Lucknow EIC) and Kumar Gaurav (Founder & CEO, Cashaa; Chairman, Auxesis Group). The summit has was supported by Department of Science & Technology, Government of India and State Government of Uttar Pradesh.

Several Key Participants

Kumar had opened the summit on February 22 2019 with a keynote speech on “India redesigning a system of trust for the survival of the human race”, followed by an opening ceremony. The following day, Kumar moderated a panel on alternative equity investment providing new high return opportunities for Indians around the world, with representatives from Plutus VC, NeonVest, Bluford Capital and Smart Valor participating in the discussion.

Hon’ble minister of Commerce and Industry at this special occasion also announced the agreement signed with Government of UAE to learn and leverage blockchain technology in the e-governance of India.

The two-day summit observed the presence of over 80 global blockchain influencers and speakers to address 2300 participants joined at the summit. More than 50 VCs & crypto funds together with a number of premium academic institutes including ISB, NUS, IIT-B,IIT-D IIM-S and others participated in summit to strengthen the Indian blockchain ecosystem.

Representatives and bureaucrats from various ministries participated to take notes on empowering a blockchain ecosystem and include ideas in the current formulation of cryptocurrency regulation of India.

The regulation is planned to be implemented by the end of financial tenure. 10 panels were constructed to discuss topics of e-governance, supply chain, fintech, Aadhar (Indian identity system), cryptocurrency regulations, digital frauds, money laundering, ICOs & STOs, traditional funding and skills enhancement in blockchain.

An Event That Stood Out

A special highlight of summit was the launch of India’s first public blockchain network by Auxledger during the inaugural session. Auxledger’s public network enables business-ready functionalities including non-volatility of network fees and enabling data privacy in a public chain.

The enterprise grade network is going to act as heart of Auxledger technology and will soon enable interoperability across the 100s of private Auxledger chains which are live already with over 60 million users of Indian State Governments.

Auxledger, which also has been a partner of Cashaa for over a year, has been a preferred choice for blockchain infrastructure by the Indian Government, and many Fortune 500 Companies have joined Auxledger as partners. With a live public network, Auxledger ecosystem is expecting to grow at exponential speed.

One of the largest summits hosted in the country had multiple elements to offer its mixed audience of policy makers, entrepreneurs, VCs, academicians and students. At the main stage, the conference included corporate presentations on blockchain by Google, IBM, Cognizant, ConsenSys, Auxesis, Tech Mahindra, Accenture and EIL for India.

Along with the stage conference, the main attractions of the summit included the Blockchain Expo, Blockchain Startup Pitch and Blockchain Masterclass. Shri Suresh Prabhu welcomed the ideas presented in the summit and mentioned that the technology offers great opportunity to think differently and bring in strategic ideas which the Government is looking forward to implement.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Advertisement
Newsletter
© Copyright 2018 Coinstituency. Risk Disclosure: Coinstituency will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Cryptocurrency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite. Coinstituency would like to remind you that the data contained in this website is not necessarily real-time nor accurate, meaning prices are indicative and not appropriate for trading purposes. Therefore Coinstituency doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Coinstituency may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.