In Brief:
- Mukesh Ambani revealed his trust in blockchain in an interview to build a future society.
- He believes that blockchain technology can help to enhance unprecedented security, trust, automation, and efficiency.
- He advised developers to build data privacy infrastructure.
India’s richest person and owner of Reliance Jio, Mukesh Ambani revealed in an interview that blockchain technology can help to build a trust-based and equitable society.
The statement came, when Ambani was attending a virtual interview at the Infinity Forum organized by International Financial Services Centres Authority (IFSCA), virtually from GIFT City.
“Using blockchain, we can deliver unprecedented security, trust, automation and efficiency to almost any type of transaction,” Ambani said, “It can be used to modernize our supply chains that form the lifeblood of our economies,”
Also, Ambani made clear that his view on the blockchain is just limited to itself, not for cryptocurrency. Although, he expects that blockchain technology can be a proven boon for financial innovations.
Furthermore, he has briefly talked about the current development and concept of blockchain technology, such as non-fungible tokens (NFTs). He added that “we will need innovative solutions to take care of working capital needs of lakhs of merchants, while managing their credit scores real-time,”
Also, he suggested developers create data privacy space through blockchain technology as it allows users to take care of their own data.
The Indian Government is still in a state of confusion for crypto uses. After creating the hype of the ban, today’s Indian government announced that the authority just wants to regulate crypto instead of a ban.
