Updated: December 3, 2021 11:51:35 pm
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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