Joseph Lubin, the co-founder of the blockchain-based open-source platform, Ethereum opened up about India’s acknowledgment of the rising need for cryptocurrency regulation in the country.
In a recent interview with Economic Times, Lubin is quoted to have said:
“Once people explain things to you and you see the power of technology, you also understand that it can protect systems better. I am fully confident that this country will embrace profound technology,”
Lubin also mentioned that they have been meeting regulators in India and also in many countries around the world and has been progressing with respect to the security law and as the progress is Lubin believes it going to take some time to be accepted.
Cryptocurrencies are a narrow slice of the crypto-assets space. There are many crypto commodities, crypto derivatives, and cryptocollectabiles and as Lubin puts that these other crypto assets that can be implemented in India.
Joseph Lubin, who created ConsenSys in early 2015 as a software company to develop decentralized software services and applications that operate on the Ethereum blockchain, recently launched an office in India as it looks to grow the Ethereum blockchain ecosystem in the country. According to him, India has fabulous human resources and great institutes which can contribute to the blockchain community and they have partnered with an Indian Institute of Technology are discussing multidisciplinary research opportunities with the institute.
Although there is a little contribution from India in terms of availing blockchain technology-based platforms into the social as well as public sectors, Lubin seems set on getting things rolling if his launch of the ConsenSys is anything to go by.
This is what Lubin had to say regarding the launch:
“From our perspective, which is a very blockchain-centric perspective, there are lots of great technologists and academic institutions in India. We have partnered with an Indian Institute of Technology where we are endowing a research chair. We are discussing multidisciplinary research opportunities with the institute, not just with computer scientists and physicists building these blockchain systems, but also social scientists who will understand the implications of the new technologies on society and legal systems.”
It’s interesting to see, Ethereum and ConsenSys upping the stake in India, as they take on Bitcoin and Ripple to be a top blockchain and cryptocurrency in India.
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