Modi's speech at a recent event makes note of the importance of using blockchain in the agricultural sector. However, it would be wise to note that the rest of the government isn't very happy with blockchain.
From the PM's inaugural address at the 106th session of Indian Science Congress:
The Prime Minister said that big data analysis, artificial intelligence, block-chain etc should be utilised in the agricultural sector, especially to help the farmers with relatively small farm-holdings.
For many startups in this space registering a blockchain company is extremely difficult. Companies registrar in the recent past has known to create issues fearing the cryptocurrency angle and confusion within government bodies over the legality of cryptocurrencies.
RBI has mandated it's licensed entities that they should not render any banking services to exchanges or cryptocurrency businesses. But the hindrance caused due to this has stifled growth of startups in this space.
So when we read our PM saying blockchain tech should be adopted, the government agencies who have insufficient knowledge on the subject steer away from any aspect of it.
It's the not the first time that the PM of India has suggested the importance of blockchain and infact many state governments are employing the technology in many ways.
However, for a citizen willing to setup a company in this sector and create employment opportunities, the government agencies are nothing more than a hurdle at this point.
What irony! Wouldn't you say?
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