India is going to launch a national blockchain

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Currently, Cointelegraph stated that India is going to launch not only its own digital currency but also national blockchain. The article states that India’s national blockchain strategy suggests the creation of a central bank digital currency (CBDC), the digital Indian rupee, and a national blockchain.

India has had the document called National Blockchain Strategy for quite some time now . In 2018, the Government of India has allocated $ 900,000 for comprehensive project called the Centre of Excellence in Blockchain Technology. Centre for Development of Advanced Computing (C-DAC), the Institute for Development and Research in Banking Technology (IDRBT), and Victoria Jubilee Technical Institute (VJTI) are going to take part in this project. The project aims at development and preliminary incorporation of the blockchain solutions.

Currently, India states that it is ready to create and implement national cryptocurrency in a public blockchain. Well, we feel that this is an important step towards the recognition of cryptocurrencies as a full-fledged payment means. By the way, New Zealand allowed its residents to pay the salaries to the employees in cryptocurrencies.

How do you feel about these initiatives?