Government to explore use of blockchain tech for ushering in digital economy

The government will explore the use of blockchain technology proactively for ushering in the digital economy, the Rajya Sabha was informed on Tuesday.

Minister of State for Finance Anurag Singh Thakur said it was announced in the Budget Speech of 2018-19 that the government does not consider crypto-currencies legal tender or coins and will take all measures to eliminate the use of these crypto-assets in financing illegitimate activities or as part of the payment system.

“The government will explore the use of the blockchain technology proactively for ushering in the digital economy,” Thakur said in a written reply to a question on introduction of India’s own crypto-currency.