The launch of the Center for Fourth Industrial Revolution witnessed India’s PM Narendra Modi expressing his desire to make India a global hub for Blockchain. The centre will serve as a platform for technologies like AI, IoT, blockchain and many more.

In his speech, Narendra Modi highlighted the benefits of using blockchain technology. He explained that the emerging technology has various benefits which his government is ready to deploy. The distributed ledger platform can help the government to provide a trustworthy governance with transparency. Further adding, he stated that India has the required resources and demographic potential to emerge as one of the fastest growing markets for Blockchain application.

Adding further Modi told his government is really enthusiastic for exploring blockchain. During the early industrial revolutions, India could not be a part due to some dire circumstances. But, now India can stand up to meet the expectations of the technologies. The government has already started rolling out new initiatives to improve India.

According to reports, in 2014 only 59 Panchayats were connected with optic fibers but now it has increased to 1 lakh. Similarly, the country has also seen a tremendous increase of 93% in its teledensity. This will provide a feasible way for the technologies to expand their market in the country, says Modi.