Navigating the Landscape of Blockchain Regulations in India

Blockchain Regulations In India

Just like the other countries, India has also been affected by the waves of blockchain. The development of blockchain technology has not failed to be witnessed by the superior finance regulators such as RBI. Though the RBI favors positively towards the growth of blockchain it becomes uncertain after the announcement of RBI act on Cryptocurrency. 

Many misinterpreting that the RBI act towards cryptocurrency with blockchain regulation.

The act of the RBI towards cryptocurrency, has given a confirmation that India is not legalizing the dealings and transactions with cryptocurrencies, and the report said, “the investors who invest in cryptocurrencies will be at their own risk, the government will not take any actions towards the loss”. But, on another hand, stakeholders and investors having hope as the governance of India, encouraging “cashless economy” to bring Digital India, there will be a chance for blockchain rays to sign inside the country. 

The statement of RBI was fully portrayed that investing, trading, purchasing with bitcoins or any other virtual currency is not legal. But, they didn’t possess any clear statement of regulating blockchain as the technology inside the country. So, the IT sectors, banking, and other corporate industries had taken a deep breath and initiated to incorporate blockchain technology for business or industry improvement.

Future Scope Of Blockchain In India

The anticipated adoption of blockchain in India is poised to surge to an impressive 46% by 2026, signaling substantial opportunities to stimulate the local economy. Through harnessing the potential of blockchain, India has the potential to generate notable social impact in sectors such as healthcare and governance.

Bitdeal's Blockchain Solution in India

Bitdeal - A blockchain development company originated at India, to provide blockchain development services inside the country by favoring various blockchain initiatives and tech startups. Then, our successful journey on providing unbelievable quality of blockchain development services has let us to expand our blockchain development services in various countries, including the USA, UK, UAE, Malta, South Korea, Japan, China, Brazil, Turkey, Singapore and more. Before diving deep into our established Blockchain solutions in India, let's take a glance at Blockchain technology in India.

Our Blockchain Development Services In India

By underlying the many trending blockchain technologies, and protocols, we at Bitdeal cater for various blockchain development services for tech startups, industries, Small, medium and large enterprises. Also, we have a team of experts who have well-practiced on Ethereum Technology, EOS, Minter, Lisk, Stellar, Corda, CrossChain, Sidechain And more.

Wrapping Up

We can able to see blockchain is having huge potential as the technology inside the country, especially in banking, and supply chain management. As a blockchain & Dapp Development Company, we are ready to extend our warm hands to the struggling corporates and industrial sectors who want to renovate themselves with blockchain. Get ready to connect with us, for instant consultation reach us via the below details.