Blockchain This Week: PM Modi’s Blockchain Joke, Preventing Fraud, Buying Iron Ore, And More

The prime minister’s lighthearted dig at the Singapore Fintech Festival last week was aimed at startup circles and its fondness for buzz words. However, the comment underlined the rising popularity of blockchain as one of the hottest new technologies that every one wants to be part of but few really understand.

Blockchain adoption in India is still at a nascent stage. But there is a lot of interest and work for proof of concept (PoC) in motion, both in government departments as well as private sectors. According to a recent study by UK consulting firm Dappros, India had 19,627 blockchain developers, as of October 2018, second only to US.

With the government’s continued support towards experimentation with blockchain technology across sectors, the technology is now not only being used by banks, regulators and consumers but also for social missions like health, education and microfinance, Modi said.

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