Blockchain technology has the potential to create value of up to $5 billion in India in the next five years, a top official of IT industry’s apex body Nasscom has stressed.
“The Blockchain ecosystem is evolving in India. Creating awareness on how this technology is simpler and easier to use with the existing social media and Cloud technology can go a long way in helping the country realise its potential,” KS Viswanathan, Vice President (Industry Initiative), Nasscom, told IANS in an interview.
To create awareness on the importance of the technology in India, Nasscom tied up with Blockchain Research Institute, Canada.
The two entities agreed to collaborate on various activities, including joint webinars and knowledge sharing.
The industry body earlier this month also launched a platform, called FutureSkills, with the aim of up-skilling two million technology professions and skilling another two million potential employees and students over the next few years.
Viswanathan said that time is not yet ripe for India to think about a regulatory framework specifically for Blockchain as it can come under the ambit of regulations on data security and privacy.