PM Narendra Modi launches blockchain-based digital degree at IIT Kanpur’s 54th convocation
Prime Minister Narendra Modi on December 28 launched blockchain-based digital degrees at the 54th convocation ceremony of the Indian Institute of Technology (IIT) Kanpur. The students were issued digital degrees through an in- house blockchain- driven technology acquired at the institute under the National Blockchain Project. These digital degrees can be certified universally and are unforgeable. Addressing the students and faculty of the Institute, the Prime Minister said today is a great day for Kanpur as the city is also getting a Metro facility.
Remarking on the achievements of Kanpur IIT, the Prime Minister developed on the potentialities that the current technology script gives to the professionals now. Indicating the compass of the areas like AI, energy,climate results, technology in health results and disaster management, the Prime Minister said “ these aren’t just your liabilities but are the dreams of numerous generations which you have the good circumstance to fulfill. This time period is for deciding on ambitious aspirations and pushing with all your might to accomplish them.”
Does blockchain-based digital degree will open the gates of cryptocurrency in India?
India is one of the fastest growing economies in the world and is an important frontier for decentralised blockchain technology to penetrate. In turn, crypto currencies are an essential component, without which it becomes difficult to incentivise the decentralised component of the technology, and what you are left with is a centralised ledger, defeating the purpose of the object and severely limiting funding for innovation, ” said James Gilbert, the president and largest shareholder of California based Crypto Co. A blockchain is a classified database that is shared among the nodules of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their vital purpose in cryptocurrency systems, similar as Bitcoin, for maintaining a secure and decentralized record of trades. The creation with a blockchain is that it guarantees the faithfulness and security of a record of data and generates trust without the need for a trusted third party.
Prime Minister Narendra Modi has said coming up tech like crypto should be used to “ empower democracy. not undermine”, while FM Nirmala Sitharaman said that cryptocurrencies won’t be permitted for transactions in India.
What’s in the coming future in regarding to cryptocurrenies?
