India wants to speed up Blockchain development

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11. In October, the world economic forum (World Economic Forum, in short WEF) opened the center for the Fourth Industrial Revolution in India. This is to accelerate the development of the Blockchain technology in India. Thus, the Indian Prime Minister Narendra modi promises to modes, to create more opportunities in the country.

The world economic forum was founded in 1971 by Klaus Schwab in Switzerland. It is an annual Meeting of leading international economic experts, politicians, Intellectuals and journalists, where current global issues are discussed. In addition, the Forum publishes regular research reports. As the WEF on March 11. October reported, it has in India, the centre for the Fourth Industrial Revolution opened. Earlier similar centres in San Francisco, Tokyo, and Beijing have been built. With the center, whose seat is in Maharastra is located, to prepare the Indian government for the development of new technologies.

Framework conditions for new technologies

The center for the Fourth Industrial Revolution will work with the government on the national level. The goal is the development of new policy framework and protocols for new technologies. Accordingly, executives from industry, academia, international organizations and Start-ups are involved in this design. The National Institute for transforming India (NITI Aayog) to coordinate the partnership on behalf of the government, and the work of the centre under various ministries. The first three project areas of the new centre include the development of drones, Artificial intelligence, and Blockchain technology. WEF founder Klaus Schwab said of this project in the context of the opening:

“The fourth industrial Revolution will change how we produce, how we consume, how we communicate and how we live. The technological progress on people to align, we need to work proactively together and to make the necessary fundamental principles and political Standards to create, to ensure that we take advantage of the full potential for a better life. India is developing into a major technological global power, and that is why I am particularly proud to announce the center for the Fourth Industrial Revolution in India.“

Fear of job loss due to new technologies

Prime Minister Narendra modi has, according to the Indian news portal Financial Express for the possibilities of new technologies. Although the population due to the advance of machine Learning, artificial intelligence, Internet of things (IoT), Blockchain and Big Data, fear of job losses. These new technologies are going to change his opinion, but the nature of the employment and help to create more opportunities in the country:

“Some people are concerned that the progress of technology will have a negative impact on jobs, but the reality is different. Industry 4.0 will touch on those aspects that have not been touched yet. This will change the nature of the work and create new opportunities.“

In addition, he stressed that the government is open to policy changes, in order to harvest the fruits of the fourth industrial Revolution.

“Our diversity, our demographic potential, the fast growing size of the market and the digital infrastructure have the potential to make India a global centre for research and implementation”,

he said at the opening convinced.

India is working meanwhile, a nationwide Internet access, even for remote villages. For of 32,000 Wi-Fi should be set up Hotspots in rural areas. The rapid rise in the use of new technologies is also reflected in mobile data consumption. This is grown in India in the last four years to a 30-fold.

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