AlgoBharat, an initiative by the Algorand Foundation focused on India, has established a six-member advisory committee with the aim of fostering a more inclusive economy through increased blockchain adoption.
According to a recent report by the G20 Global Partnership for Financial Inclusion, India has achieved 80 percent of financial inclusion rate in six years.
As the government places a growing emphasis on building a digital infrastructure, blockchain technology has the potential to play a pivotal role in enhancing social equity by improving access to capital, markets, and essential services.
The India Advisory Committee established by AlgoBharat will play a key role in guiding the development of blockchain-based solutions to advance the goal of financial inclusion and greater social equity.
The six-member committee will be chaired by Rama Sevak Sharma, former CEO of the National Health Authority. The other members will include Indu Bhushan, the first CEO of Ayushmann Bharat; KP Krishnan, Secretary at the Ministry of Skill Development and Entrepreneurship; Anuradha Mitra, Secretary at the Ministry of Home Affairs; financial regulator Prashant Saran and Ashok Pal Singh, former CEO of India Post Payments.
Former civil servant RS Sharma, known for his contributions to digital governance and government program innovation, said: "Our objective with the formation of India Advisory Committee is to collaborate with distinguished experts from the public sector to ensure a more inclusive and equitable future for India."
Anil Kakani, Vice President of the Algorand Foundation, emphasized the importance of blockchain technology in creating real-world impact across multiple sectors. He stated: "Our Advisory Committee's support will accelerate India's journey toward becoming a global blockchain leader and the development of sustainable Web3 solutions that foster economic growth and a more inclusive society."
The committee's primary role is to provide strategic guidance to AlgoBharat in building a developer community capable of delivering blockchain-based solutions aligned with the Algorand Foundation's impact objectives. Additionally, it will offer insights on integrating blockchain into public sector initiatives by promoting active collaboration and sharing insights on policy matters among teams.
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