Although, there are plenty of rumours going on in India regarding Bitcoin Ban recently. Though supreme court also directed the high courts not to entertain any petition against R.B.I and to transfer the pending cases in top court. The follow up next hearing is scheduled for July 20.
Previously, Narendra Modi on February 19 tweeted :
Embracing AI and Block Chain Technology would be beneficial for our agriculture sector. pic.twitter.com/hUVeGIscin
— Narendra Modi (@narendramodi) May 19, 2018
Disruptive technologies such as Block-chain and the Internet of Things will have a profound impact on the way we live and work. They will require rapid adaptation in our workplaces: PM @narendramodi
After that many of us assumed bitcoin going to be legal in India very soon. But unfortunately, R.B.I directed all the banks not to deal with crypto exchanges is still a question with concern. It was a setback for many of us.
Now again on May 19, Modiji on his tour in Jammu and Kashmir, in the convocation in Sher-e- Kashmir University of Agricultural Sciences and Technology once again praised the blockchain technology and outlined its benefits for the different field for sustainability of technology.
The major facts includes :
- Modiji inspired the youth of Kashmir to be leaders of tomorrow by revolutionising the agriculture by their intelligence.
- He also highlighted the use of Artificial intelligence in the field of agriculture and said it can do wonders by citing an example of the use of drones is done for giving pesticides in the field already in some parts of India.
- The main point is the use of blockchain technology, in the coming days blockchain technology has to be used in real-time monitoring in the supply chain. He also said the production cost is also more due to costly fertilizers and seeds.
That’s true that these technologies have major potential, it just needs to harvest properly. The main idea is that – by use of Blockchain technology we can eliminate the middleman and hence reduce cost and farmers will get benefitted.
Techllog View :
One one side Indian government is going to divorce Bitcoin but on the other side they have an affair with the blockchain technology which is quite strange.
Believe it or not, blockchain technology is the future. What the blockchain today is, was internet just 10 years back. So sit back and relax.