Future of Blockchain in India

India is moving beyond the nascent stage today and exploring the benefits of blockchain technology at a larger scale. With tremendous opportunities that can be exploited across various sectors in the nation, India is well on its way to being a leader in the blockchain revolution. However, large-scale adoption also comes with its own set of challenges. The biggest challenge lies in the lack of awareness about blockchain and its potential benefits. Integration of current systems and technologies with blockchain is yet another challenge, as is the misunderstanding that blockchain is a complete technology that will replace existing systems and infrastructure.

The key to India becoming a leader in blockchain technology lies in overcoming these challenges. The youth needs to come up with innovative solutions and ideas, and the nation also needs more VCs to fund innovation in this space. Moreover, education, awareness, learning in this space, and technical upskilling are equally important. Campaigns by the government can improve visibility towards blockchain technologies while rallying up content creators and media houses to demystify current myths and increase awareness can attract more people.

Once we are able to get past the difficulties in the initial phase of adoption and implementation, there’s no doubt that India will take the lead and emerge as a global leader.