Prime Minister Narendra Modi is one of those few world leaders who are known for a tryst with technology. No matter which technology it is, if it can help in improving any cumbersome procedures he embraces it without worrying too much about it. Blockchain is also one of those technologies. He has been speaking in the favor of blockchain tech since last 14 months at least. The first time when he spoke about blockchain was back in February last year, and since then he has spoken in favor of this emerging technology at least 5 times. And today when he was addressing the National Traders’ Convention he spoke about it for the sixth time.
That’s right. While addressing the convention as part of his hectic election schedule he said that in next five years his government will work on strengthening the MSME sector of India with help of various technologies. He said:
“In next 5 years we’ll introduce this sector with technologies like Artificial intelligence, Robotics, Internet of Things, Virtual Reality and Blockchain. We want to strengthen our traders by moving on the path of minimum government, maximum governance with help of technology.”
In short, this seems to be a hint that the government may go big on emerging new technologies (including blockchain) in the next 5 years. He made this remark while speaking about the new technical skill centers that will be established by his government after coming back to power for developing “ideal MSMEs”, which hints towards the possibility of government-aided programs being run for the training of these technologies to traders in the coming years.
Now, if government itself takes an initiative to educate traders about blockchain, the scope of this technology is bound to grow manifolds in India. However, at the same time, the future of cryptocurrencies (which are an essential part of any blockchain ecosystem) is also hanging heavily in uncertainty. It will be interesting to see whether any positive steps are taken by his government on that front or not after regaining power.