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Blockchain Being Utilised for Financial System in India

If you own cryptocurrency and are based in India then the future of your digital assets may remain uncertain.
Despite this, the integration of blockchain in the nation is seemingly growing in quick succession.

If you own cryptocurrency and are based in India then the future of your digital assets may remain uncertain. This could go on for a long time too…

Despite this, the integration of blockchain in the nation is seemingly growing in quick succession.

The state of Kerala is allegedly going to be on its way to becoming the first region in the nation to introduce blockchain technology in a successful manner. This will be in an attempt to see its financial sector and human resource areas strengthened significantly.

A report from Economic Times states that the region wants to utilise the blockchain to improve the financial system as well as integrating brand new government schemes. This will be done through an introduction and talent pool of professionals who are at one with the blockchain space.

The State Electronics and IT secretary of Kerala state, M Sivasankar went to talk more on the development and went onto say:

“We are looking for intelligent use of blockchain in specific domains in the next five years so that its applications can be sustained. Companies that produce solutions based on the technology can sell it as products or services.”

Blockchain in India

Blockchain in India has been seeing some keen in interest over the past year. In February last year, Cardano’s subsidiary Emurgo claimed to develop, support and incubate commercial startups following the launch of a blockchain academy in the country to train more than 2.5k developers specialising in blockchain.

It will be interesting to see how this situation plays out in Kerala. For more news on this and other crypto updates, keep it with CryptoDaily!

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