IBCIndia 2018 | Blockchain – Fourth Industrial Revolution, Potentially in India

India has experienced digital adoption on a massive scale since 2017 leading to blockchain becoming the next big thing in the nation’s multiple industries. State governments are edging towards integrating blockchain in their systems with Andhra Pradesh, Telangana, and Goa bearing the flag. They are collaborating with multiple blockchain startups and tech giants including Tech Mahindra, as seen at the Indian Blockchain Congress, Hyderabad.

International Blockchain Congress (IBC), organised by Enbloc Media, is the biggest blockchain summit to have taken place in India. This is the first time that the Indian government has shown a receptive stance towards Blockchain and Cryptocurrency to an extent where Enbloc collaborated with the nation’s central transformation agency, NITI Aayog, and Department of IT Government of Goa to host this event. IBC saw dignitaries like Mr. Manohar Parrikar, Chief Minister, Goa and Mr. Amitabh Kant, CEO, NITI Aayog speaking in support of the tech.

Day 2 of the event has ended today and it was nothing short of industry stalwarts giving their views on how the change in the Indian blockchain ecosystem can make an impact on a global system. One of such renowned personalities was Tim Draper, Founder – Fisher Jurvetson & Draper University, who labelled Blockchain as the Fourth Industrial Revolution that could begin from India.

Back in July 2014, Draper received media coverage for his purchase of seized bitcoins at US Marshals Service auction from the Silk Road marketplace website. Since then, he hasn’t stopped. Regarding the transformation that blockchain has the potential to bring in the nation and globally, Draper said,

“I have seen the computer revolution. I have seen the software revolution. I have seen the Internet Revolution. None of it has been as big as the bitcoin and blockchain revolution. Blockchain is one of the greatest creations of all history. It’s all going to change. Healthcare is going to change. Real Estate is going to change. Finance, Banking, Investment Banking….Everything.”

"Insurance is going to change. Healthcare is going to change. Governements will become much more virtual." @TimDraper on how blockchain will transform the face of all the major industries. @enblocibc #IBCIndia2018 #WeSupportBlockchain #WiresLive #BTCWires pic.twitter.com/0qk61jyGyh

— BTC Wires (@btc_wires) August 4, 2018

Draper clearly was not in a sober mood and was really enthusiastic for the rising adoption of blockchain globally, as is evident from the tweet above.

Day 3 of the event will be conducted tomorrow in Goa and will see a lot more such blockchain activists and tech juggernauts collaborating with governments and emanating ideas.