Indian Internet ‘Blockchain Committee’ Attracts Reps From Zebpay, MasterCard, Microsoft

The Internet and Mobile Association of India (IAMAI) is forming a dedicated focus group for blockchain exploration made up of both big business and cryptocurrency players, Indian daily newspaper Economic Times reported Monday, Oct. 15.

Confirmed in a tweet Tuesday, the IAMAI, whose remit is to “expand and enhance” the online and mobile sector, will use its “Blockchain Committee” to “identify opportunities and challenges and work with government, industry and startups” to develop a blockchain “ecosystem.”

The move comes amid testing times for cryptocurrency in India, with the country’s supreme court still deliberating on the legality of the Reserve Bank of India’s (RBI) cryptocurrency banking ban it instigated in July.

Commenting on the plans, Tina Singh, chair of the newly-founded Blockchain Committee, said the technology was nonetheless “undoubtedly the technology of the future,” noting:

“The IAMAI Blockchain Committee will focus on creating dialogue between all stakeholders; curate and create content to aid skill development and move towards creating a participative economy with the usage of blockchain.”

Participants in the committee include major Indian cryptocurrency exchange ZebPay, itself a conspicuous victim of the central bank’s ban, having halted its exchange offering altogether late last month.

Other parties include representatives from MasterCard, Microsoft and IBM.

The RBI itself is also “researching” blockchain, sources reported in August, as part of an assessment process in which it would “check what can be adopted and what cannot.”