Govt says it has worked out a public system on AI, blockchain

Business Today

Crypto, metaverse, and Web3 were again examined in the Indian Parliament on Monday. The public authority said that the it has worked out a public system on blockchain and Artificial Intelligence.

Locket Chatterjee, BJP MP from Hooghly, West Bengal asked the Finance Ministry in regards to the situation with guidelines on metaverse and Web3. Additionally, the BJP MP likewise looked for lucidity on guidelines on interests in new businesses that work in areas like NFTs, crypto wallets, metaverse, etc.

Chatterjee’s questions were addressed by State Finance Minister Pankaj Chaudhary. Chaudhary pushed on the way that the Web3 space is continually advancing however for the present, it is managed under the Information Technology Act, 2000. He likewise explained that the public authority has worked out on public technique connected with Blockchain and Artificial Intelligence.

The serve said, “The technologies related to Metaverse/ Web 3.0 are still evolving. The Government is cognizant of emergence of new technologies and the rapid proliferation of emerging technologies such as Artificial Intelligence, Blockchain, Drone, Augmented Reality / Virtual Reality, Metaverse, Web 3.0 etc. The Information Technology Act, 2000 covers the technology space. The Government of India has worked out national strategy on the emerging areas especially National Strategy on Artificial Intelligence and National Strategy on Blockchain.”

Furthermore, on the issue of interests in new businesses working in the space, the clergyman commented that they are progressing at a decent speed and some have additionally teamed up with the public authority on specific projects.

Chaudhary answered Chatterjee by saying, “Startups working on emerging technology space are making good business progression based on the utility of their products and services. Some technology startups are also working with the government on the use of emerging technologies on the projects for public service delivery”.

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