India’s Journey towards Decentralization Accelerates with Blockchain

By Sunil Sonkar
2 Min Read
India's Journey towards Decentralization Accelerates with Blockchain

India is boldly adopting blockchain technology to advance decentralization. With a historical foundation dating back to pre-independence India, where local empowerment took precedence over central and state governments, the nation is now seeking innovative solutions to achieve decentralization in the digital age.

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Bengaluru played host to the Enterprise Utility Blockchain Summit, an innovative event arranged by TimeChain Labs and Nu10 Technologies. The summit aimed to dispel misconceptions about blockchain technology and highlight its practical uses for businesses and enterprises. Over the course of two days, the summit attracted a diverse audience including policymakers, startups and BSV blockchain ecosystem developers.

Rohan Sharan, founder of Timechain Labs, emphasized the importance of scaling solutions in India with the cost-effective BSV blockchain. The summit had a positive vibe, noted by panelist Dr. Sandeep Shukla, and central discussions revolved around blockchain’s role in enabling peer-to-peer communication for India’s 1.4 billion population, exploring its potential for enhancing digital commerce.

Ceedi, a decentralized asset exchange for last-mile delivery workers, emerged as a promising initiative. Founder James Chako explained that Ceedi aims to create an ecosystem to help these workers find jobs, access loans and obtain insurance. Dr. Craig Wright, in his keynote speech, stressed the essence of decentralization as direct communication and collaboration.

IPv6, the next-generation Internet protocol, also played a crucial role in discussions. Dr. Satya Gupta highlighted its significance in enabling true peer-to-peer communication by eliminating the need for intermediaries like NAT (Network Address Translation). IPv6 offers an unlimited address space, ensuring that every device connected to the internet can have a dedicated address, facilitating seamless peer-to-peer connections.

India’s journey towards decentralization gains momentum as blockchain technology and IPv6 provide the tools to empower individuals and businesses, strengthening direct communication and collaboration across the nation.

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