Indian IT Company to Cooperate With Canadian Blockchain Institute

IT industry trade company NASSCOM has partnered Canadian Blockchain Research Institute to speed up the adoption of blockchain technology in India
27 February 2018   122

India’s National Association of Software and Services Companies (NASSCOM) is cooperating with Canadian government-backed Blockchain Research Institute (BRI) in order to educate Indian government organizations on blockchain technology. This is a part of a  Memorandum of Understanding (MoU) signed between this partners.

They will invest in fosters skillsets among developers domestically to further blockchain adoption and deployment in India. More than that, this cooperation will see case studies, joint webinars and other research sharing activities facilitated by the BRI.

There will be the 2-phase roadmap:

  • Phase 1 will introduce the Blockchain in India;

  • Phase 2 will involve the installation of a research institute to develop blockchain solutions in the country.

We need to understand it’s not a plug and play we can do tomorrow but there is huge potential in developing this world-class sustainable blockchain ecosystem in India, a move geared to enhance the industry body’s vision for a “digital economy.

Raman Roy

NASSCOM chairman

According to BRI co-founder Tapscott, they believe that India has the potential to lead the Blockchain revolution.

Cryptocurrency to be Regulated in France

French Ministry of the Economy and Finances creates working group to regulate cryptocurrency
22 March 2018   117

Bruno Le Maire, the French Minister of the Economy, announced the government initiative to constitute the instructions and regulations towards cryptocurrency. The group is also aimed to decrease the influence of Bitcoin and altcoins to the formal system of economy with the help of required concept. These measures would help French government to prevent tax avoidance and some other criminal activities (such as money laundering).

In an op-ed that was published in French media this week the Minister of the Economy Bruno Le Maire made a promise not to miss the blockchain revolution. He refined the reasons of the French authorities`decision to regulate the technology. According to his point of view, it is impossible for any consumer or entrepreneur to carry out a transaction, invest, develop in business being in a regulatory vacuum. The Minister also put this position on the top among the rest questions to be discussed at G20 Summit in Buenos Aires. Bruno Le Maire is sure that the role of France is to be a driving force in “building the world of tomorrow”.

The Minister is going to present his case at the G20 Summit in 2018 in Argentina. He hopes that the framework can help in decreasing illegal activity in cryptocurrencies. Le Maire also explained that the sphere of digital funds is extremely attractive for criminals.

The leader of the working group is Deputy Governor of the Central Bank of France Jean-Pierre Landau. The French Central Bank supports the Government and hopes there would be no negative impact and consequences for the traditional economy system.

The key object of cryptocurrency regulation is to limit various negative factors in the financial sphere caused by digital money, such as the price volatility. Le Maire claims that at the same time the regulation of the cryptocurrency can support the development of the technology and can even lead to the economic growth. As blockchain can destroy not only traditional daily practices in banking and financial markets, but also patents and certified acts, the French Minister of Economy urges that the working group should foresee all these changes and become “actors of this revolution”, instead of simple viewers.