Indian Software Firm, Canadian Research Institute Partner To Promote Blockchain In India

India’s National Association of Software and Services Companies (NASSCOM) signed a memorandum of understanding (MoU) with Canada’s Blockchain Research Institute (BRI) to collaborate on Blockchain education and training in India, tech news outlet CIO reported yesterday, Feb. 22.

BRI tweeted a photo of their co-founder, Don Tapscott, signing the MoU alongside Sanjay Tugnait, CEO of consulting firm Capgemini Canada, and Sangeeta Gupta, VP for NASSCOM:

BRI co-founder and Executive Chairman @dtapscott signed an MoU with @nasscom to help foster #blockchain innovation in India. pic.twitter.com/Mqc6tT1NFZ

— Blockchain R.I. (@blockchainRI) February 21, 2018

NASSCOM and BRI together will establish the Centre of Excellence in India, designed to foster the adoption of Blockchain technologies in education, government, and startups, according to Indian information platform Inc42.

Raman Roy, Chairman of NASSCOM, said that the new alliance aimed at fostering India’s Blockchain environment will “help enhance our vision for a digital economy:”

“We believe Blockchain is a transformative technology for businesses. It is imperative that we identify and explain key application opportunities, issues, strategies and approaches that enable companies and governments to capitalize on this emerging technology.”

In relationship to the partnership, Don Tapscott said, “We need to create an awakening in India, showcase the power of Blockchain,” CIO reported.

A misinterpretation of the Indian Finance Minister’s warnings of a crackdown on cryptocurrencies that finance illegal activities as instead a ban of crypto in the country caused the crypto markets to slump in early February.

In a second misinterpretation of crypto news from India, India’s December 2017 tax policy for cryptocurrency was wrongly reported in the media as a new, strict policy earlier this month, causing the crypto markets to dip again amongst the confusion.