The Indian state of Tamil Nadu has announced its plan to build a blockchain technology infrastructure. All this is aimed at facilitating the government processes in the region.
Tamil Nadu and blockchain
Indian Prime Minister Edapaddi K. Palaniswami announced the adoption of an ethical blockchain policy by Tamil Nadu. The New Indian Express wrote about the case.
Palaniswami also stated that Tamil Nadu intends to launch its project on digital identity authentication services, which the politician said will revolutionize the way the government serves its citizens.
The project will be implemented through the creation and use of the State Family Database (SFDB) and Blockchain Backbone infrastructure. The blockchain infrastructure functions in the system as a “source of truth” for all government data and processes.
It also added that by launching the Blockchain Backbone infrastructure, the state also recognizes the need to create a forum to promote collaboration between industry, start-ups and academia in order to build such a modern ecosystem.
The state of Tamil Nadu previously also adopted an ethical policy regarding artificial intelligence, the aim of which is to use the advantages of this technology while maintaining all security and ethical compliance with human values. The authorities also adopted their new cybersecurity policy. This, in turn, is to protect the information contained on the web and to combat cybercrime.
It is worth adding, however, that the situation of the cryptocurrency market in India is still not certain. Several authorities – the Supreme Court and the central bank – are arguing over whether digital asset exchanges should operate freely in the country. Earlier, there were even ideas of punishing people with imprisonment for using Bitcoin. As you can see, however, officials clearly distinguish between digital currencies and blockchain in their analyzes.
Not only India
Not only India is opening more and more to the possibilities of blockchain technology. In an interview with Bloomberg the governor of the Philippine central bank of Bangko Sentral ng Pilipinas (BSP), Benjamin Diokno, said blockchain digital tokens “Increase the range and reduce the cost of financial services”, and also reduce the use of fiat money. He also added that they are improving the way the central bank provides financial services to its citizens.