Blockchain expert Bob Tapscott believes that India has the potential to become a Blockchain pioneer. He stated this at the “BlockHash Live 2018” summit organised by the Kerala Blockchain Academy (KBA) in Thiruvananthapuram, India.
The three-day event was aimed at presenting the global businesses in Blockchain an opportunity to expand their operation in Kerala as well as across the country. While addressing the attendees on Saturday, Tapscott said:
“When I was working in Silicon Valley, it was staggering to see the percentage of products created by people in India that has perfect ecosystem getting ready with talent and skill. Considering the talent in the country, I can clearly say India has the capability to lead Blockchain revolution.”
He further pointed out how India has better potential than its contemporary country’s:
“Canada is aspiring in this field while Switzerland has taken the lead in crypto but not necessarily the lead in Blockchain revolution. In terms of knowledge, capability and technology, India is in a position to lead. “
“Instead, it has the potential to eliminate unnecessary intermediaries and making organisations more efficient. In fact, it’s a job creator. In case of Artificial Intelligence (AI), drivers are working in warehouses and working as cooks as AI technology eliminates jobs. “
While India might not be open to accepting Cryptocurrencies, the country has had an open outlook for their underlying technology, Blockchain. Just recently, a top management college, SP Jain College started issuing degrees and certificates on Ethereum Blockchain, to ensure transparency in the process. An insur-tech company, Policybazaar adopted blockchain technology, to streamline various aspects of its website. Reliance Industries, one of the pioneer companies in India, employed blockchain to get overseas payments. With the steady increase in the use cases of Blockchain, the future does seem bright for the technology in the country.