BJP Manifesto Mentions Blockchain Twice: Will Crypto Regulations Come?

Disclaimer: Please note that we are a cryptocurrency news organisation and are not affiliated with the views of any political party. This piece is only intended to cover the impact on the blockchain and cryptocurrency industry.

The ruling Bharatiya Janata Party (BJP) recently released its election manifesto ahead of the Lok Sabha elections 2019. While the election will be fought on many issues, a key issue for the cryptocurrency community in India is the implementation of a regulatory framework.

The BJP has mentioned blockchain twice in its manifesto. Specifically, the BJP has spoken about the use of blockchain technology in agriculture.

We will enable development of young agri-scientists to take advantage of Artificial Intelligence, Machine Learning, Blockchain Technology, Big Data Analytics etc for more predictive and profitable precision agriculutre.

BJP Manifesto, Page 14

More importantly, it has invoked blockchain technology in its section about Micro, Small and Medium Enterprises. The manifesto speaks about technology centers for technology access and up-gradation. It says:

These technology centers would expose MSMEs to Artificial Intelligence, Robotics, Internet of Things, Virtual Reality, Blockchain Technology, and Zero Defect Zero Effect.

BJP Manifesto, Page 18

While BJP has been speaking about blockchain technology for the past five years, it’s regressive approach towards cryptocurrency regulations has left the community frustrated in India. It wouldn’t be wrong to say that, among the leading global economies, the Indian government has shown the poorest understanding of the cryptocurrency industry and is still stuck with the age-old ‘blockchain, not cryptocurrency’, mindset.

We also scanned the manifesto of BJP arch rival Congress but did not find any mention of the word blockchain. Regardless of the political outcome of the Lok Sabha Elections 2019, can any party live up to the promises of the cryptocurrency community?

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