The Internet and Mobile Association of India (IAMAI) is forming a Blockchain committee group with representatives from both the cryptosphere and traditional big business.
The committee will engage government, traditional business and startups in developing the ecosystem. The organization will also focus on blockchain use-cases in job creation.
“Blockchain is undeniably the technology of the future, slated to bring decentralization, trust and accountability into multiple areas of business,” – said Tina Singh, chairperson of the newly formed Blockchain committee. – “However, in order to be more effective and enter the mainstream, blockchain technology needs the intervention of government bodies, regulatory authorities and corporates.”
In addition to her position within the committee, Singh is the Chief Digital Officer, Mahindra Finance. Other members of the newly formed group include several executives at notable tech and fintech corporations such as Microsoft, MasterCard, IBM and HDFC bank, the biggest private bank in India.
Sandeep Goenka, founder of India’s bitcoin exchange Zebpay, is also a member of the new group. In September, the exchange announced the shutting down of its services after it found itself unable to operate without access to banking services.
Earlier today, Coinstelegram reported that Indian government was preparing a report which may propose amendments to the existing laws with a view of making it illegal to hold crypto assets that are not approved by the government.