AlgoBharat Sets Up Advisory Committee To Boost Blockchain Development

AlgoBharat's India Advisory Committee, chaired by RS Sharma, aims to promote blockchain technology for financial inclusion and to create a more equitable Indian economy

By Shashank Bhardwaj

Published: Sep 15, 2023 02:35:14 PM IST

Updated: Sep 16, 2023 09:17:12 AM IST

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In a move towards advancing blockchain adoption in India, AlgoBharat, an initiative backed by the Algorand Foundation, has announced the formation of its India Advisory Committee. The committee, comprising six members, will be chaired by RS Sharma, a former civil servant within the Government of India.

Dr. Sharma, the Committee Chair, stated, "Blockchain technology holds immense potential to support India's growth narrative, and this step to establish an India Advisory Committee underscores the Algorand Foundation’s commitment to achieving this potential. As Chair of the committee, I am excited to collaborate with distinguished experts who bring decades of experience in public sector leadership and innovation."

Notably, India has made significant progress in financial inclusion, with an 80 per cent inclusion rate achieved in six years, according to a recent report by the G20 Global Partnership for Financial Inclusion. The establishment of this committee underscores the Algorand Foundation's commitment to realising the potential of blockchain technology to enhance financial inclusion in India's growth story.

The India Advisory Committee comprises a group of individuals with public sector leadership and innovation backgrounds. This six-member committee includes Dr. Indu Bhushan, Dr. KP Krishnan, Anuradha Mitra, Prashant Saran, Dr Ram Sevak Sharma, and Ashok Pal Singh.

The committee's key roles include providing strategic direction, offering thought leadership, engaging with the public sector, and actively collaborating with project teams on policy issues.

Anil Kakani, Vice President and India Country Head at the Algorand Foundation expressed, "We are fortunate to have such outstanding leaders on our India Advisory Committee who will support our activities and strategy in Bharat. As the understanding and appreciation of the potential for blockchain technology to create substantial real-world impact across various sectors grows, our Advisory Committee’s support will only accelerate India's ascent as a global blockchain leader and the development of sustainable Web3 solutions that can foster economic growth and create a more inclusive society."

The establishment of the India Advisory Committee marks a significant milestone and reaffirms the growing importance of blockchain technology in India's efforts to build a more inclusive and fair economy. This initiative seeks to improve financial inclusion and social equity, in line with the country's growing focus on enhancing digital infrastructure.

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash