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Blockchain Research Institute and NASSCOM Sign MoU

Blockchain Research Institute and NASSCOM Sign MoU

Reading Time: 2 minutes by on February 24, 2018 Blockchain, Business, News, Tech
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NASSCOM, the Indian National Association of Software and Services Companies, has signed a memorandum of understanding with the French-Canadian Blockchain Research Institute on February 21, 2018.

Blockchain Reclaiming its Pole Position over Cryptocurrency

In cementing an understanding of anticipated cooperation and enthusiasm for blockchain technology, the two parties signed the MoU represented by leading industry figures. The MoU comes two days after Indian Prime Minister spoke eloquently on India’s anticipation of the benefits of blockchain application at the World Congress on Information Technology.

Already a forerunner in many areas, India is at the forefront of pushing ahead with new technologies to aid governance of over a billion people as well as investigating technology to alleviate poverty and social inequalities.

With a progressive nod to the emergence of new technology like the blockchain construct, he added, “We also need to ensure that our existing workforce is able to re-skill as new technologies emerge.”

The popular Indian Prime Minister is seen as a dynamic go-getter with ambitious plans to apply IT in its broadest sense to the struggles of his people.

Sanjay Tugnait, the CEO of Capgemini Canada, a French multinational IT services company and NASSCOM VP Sangeeta Gupta signed the memorandum.

Capgemini declared revenues of $10.4 billion for 2017 and employs almost 200,000 people globally, more than half of them based in India. The MoU is geared towards generating awareness of blockchain technology in India and promoting enthusiasm for and application of the technology.

The Blockchain Research Institute is expected to broadly assist in NASSCOM members’ pursuits of both reskilling their staff on current blockchain application and aiding them to implement it in business.

All Around Enthusiasm for Blockchain

Raman Roy, NASSCOM chairman, expressed his happiness at the signing of the MoU, stating that “[We are] delighted to be pushing the envelope in blockchain research in the country through this MoU.”

The duo are looking to immerse members in blockchain technology so that India might one day be a leader in the field. He cautioned, however, that “We need to understand that it’s not a plug and play we can do tomorrow, but there is huge potential in developing this.”

One of the founders of the Blockchain Research Institute, Don Tapscott, discussing the MoU, said, “There are two parts to bringing this to life. [Firstly], we need to create an awakening in India, showcase the power of blockchain and we can do this by looking at incentives or discounts to organizations who do this. That’s phase one.”

Tapscott went on to say that:

“Phase two [is] where we’d like to build a blockchain institute in India which is actually building stuff and making things happen.”

The MoU is recognized as the brainchild of Capgemini’s Tugnait who iterated India’s convenient position in the sector: “India being the leader in the knowledge industry, [it] can take the lead in blockchain. This came to me [one] night and I realized I need to make this happen.”

Established in 1988, the non-profit NASSCOM is the trade association of the Indian Business Process Outsourcing (BPO) and the Indian Information Technology (IT) industries.

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