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Blockchain a technology I believe in: Ambani

🔴 Mukesh Ambani said India is putting the most forward-looking policies and regulations in place. “India has Aadhaar, Jan Dhan Accounts, and our UPI interface.

By: ENS Economic Bureau | Mumbai |
Updated: December 3, 2021 11:51:35 pm
Mukesh Ambani, Mukesh Ambani news, Reliance Industries, Reliance Industries news, blockchain, blockchain news, cryptocurrency, cryptocurrencies, Indian Express, India news, current affairs, Indian Express News Service, Express News Service, Express News, Indian Express India NewsReliance Industries Chairman Mukesh Ambani (File)

Reliance Industries Chairman Mukesh Ambani said Friday he’s a “big believer” in real-time technologies like blockchain which is a “very important framework for just and trust-based transaction and trust-based society”. “Smart contracts will become real, blockchain is a technology I believe in and it’s different from crypto,” he said at the InFinity Forum.

He said India is putting the most forward-looking policies and regulations in place.

“India has Aadhaar, Jan Dhan Accounts, and our UPI interface. We are on the verge of introducing a data privacy Bill, which I look forward to, and also the cryptocurrency Bill. So, I think we are on the right track, and what impresses me the most is that as a society we are most proactive, open and vibrant,” he said.

“As I see, real-time technologies are there. It is great that we have moved from T+7 to T+2 and T+1, but I am big believer in real-time. So, everything will settle in real-time,” the RIL Chairman said.

“I think smart token is making sure that you are creating transactions that can never be changed,” he said. The convergence of real-time, convergence of distributed ledger and blockchain technologies, smart tokens, convergence of physical and digital through IoT will enable and redefine the decentralised financial sector in a way never imagined, he added.

“It is happening in the coming 10 years, and again this will be a prerequisite to a great economic growth. Today there is more money chasing people and we are short of ideas,” Ambani said. “We are on the verge of introducing a data privacy bill, which I look forward to, and also the crypto currency bill…,” he said.

Blockchain strategy: IT Min

New Delhi: The Electronics and IT Ministry released a national strategy on blockchain to adopt the technology in government systems, especially e-governance. PTI

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