South Indian State Kerala To Launch A Blockchain Academy

South Indian State Kerala To Launch A Blockchain Academy

Kerala, a state situated along the southern tip of the Indian subcontinent, will host the country`s second blockchain academy.The project is a col

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Kerala, a state situated along the southern tip of the Indian subcontinent, will host the country`s second blockchain academy.

The project is a collaborative initiative between a regional educational institution and an international blockchain learning and development platform. The blockchain academy will be started to research and provide consulting about the blockchain technology, according to the publication.

The Indian Institute of Information Technology and Management-Kerala (IITM-K) and the international blockchain learning platform Blockchain Education Network (BEN) announced that they will work together on the project. The statement was made at a blockchain technology workshop in the Indian city Thiruvananthapuram.

“Banking, healthcare, and governance are the three major avenues where block chains will find applications.”, said Asharaf S, Associate Professor, IIITM-K, the chief organizer of the event, as quoted by The Hindu Business Line (thehindubusinessline.com).

Recently, India welcomes a number of blockchain and bitcoin-related developments.

“Having had a good understanding of the various aspects around the blockchain technology including – the sound basis underlying the technology, the advantages to be had by its adoption, the variety of its applications that are being explored around the globe, security, privacy and scalability concerns and potential countermeasures, we recommend that the time is ripe for its adoption in India.”, said the white paper called “Applications of Blockchain Technology to Banking and Financial Sector in India”. The latter was published by the Institute for Development & Research in Banking Technology (IDRBT).

However, India`s financial regulator, the Reserve Bank of India (RBI), has warned that virtual currencies like bitcoin have not been authorized by them:

“The Reserve Bank of India advises that it has not given any licence / authorization to any entity / company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader etc., dealing with virtual currencies will be doing so at their own risk.”, as they wrote in their press release quoted by cryptocoinnews.com.

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