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The richest man in Asia wants to develop one of the largest Blockchain networks in the world

Mukesh Ambani, who according to Forbes, Asia's richest man, wants to call within the next year, "one of the largest Blockchain networks in the world" to life

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The richest man in Asia wants to develop one of the largest Blockchain networks in the world

Mukesh Ambani, who according to Forbes, Asia's richest man, wants to call within the next year, "one of the largest Blockchain networks in the world" to life. This is the Indian billionaire, announced at the annual General meeting of his group, Reliance Industries. In the future, the network should help the domestic agricultural industry and the supply chains in the country to secure.

By David Barkhausen
13. August 2019BTC$11.401,00 -0.43%part Facebook Twitter LinkedIn xing mail

in this Country, Mukesh Ambani is a little-known Name. In his home country of India, however, the richest man in Asia is not a club just a well-known sports owner, but also as a significant advocate of the domestic industry.

The upturn in the world's competitive economic power Ambani India wants to engage now with the Blockchain technology under the arms. Under the patronage of his mobile communications company, and Jio is one of the largest Blockchain networks in the world is to be created "[ ... ] with tens of thousands of Nodes", which combines the domestic industry.

plans of the billionaire announced this Monday, the 12th. August, at the annual General meeting of the petrochemical group Reliance Industries, the parent of Jio, of the shareholders. Already within the next twelve months of the official launch of the mammoth project is expected to fall.

in the Future, the network aims to help the agricultural industry, its supply chains are secure, said Ambani in Mumbai.

by Using the Blockchain, we can bring virtually any type of transaction is unprecedented security, trust, automation, and efficiency. For India this is of crucial importance, in particular with a view to the modernisation of our supply chains for agricultural products and other goods, which form the lifeblood of our economy,

the 62-Year-old about the merits of the technology. But even in the private area of the Blockchain network is to be an asset for India. So Ambani wants to give Indian citizens using the technology and also the Power over their personal data.

With the Blockchain, we also have the opportunity to invent a brand new privacy model, in the case of the Indian data, especially customer data, to the Indian people belong to and are controlled by it and not to [private] companies, especially global corporations,

are aware of the Ambani versus the US data giants like Facebook itself. How this Herculean task to succeed in, he left it open sometimes. However, to support the group on their first experience. Last year, Reliance Industries had ventured together with the banks, ING and HSBC, first steps and Blockchain technology in trade financing put to use.

India: Emerging economic power with growing pains

As one of the most important emerging economies, India has seen rates since years of remarkable Growth. At the same time, the largest democracy, is currently around 1.4 billion inhabitants, after China the second most populous state in the world. This exposes the country to certain growing pains.

While Prime Minister modi in the course of its Made-in-India-Initiative, everything on the industrialization of the country. The majority of the Indian population lives directly from the lucrative agriculture. Despite continuous reforms and the Indian economic miracle of the past years, the development is lagging behind in the country.

While the government in New Delhi, the 29 Federal States, meanwhile, will fight strongly against poverty, unemployment and education problems, groans laundering, the Economics of corruption and money.

In the fight against tax evasion and bribe payments aggravates the state of these days, however, his actions – to the chagrin of the crypto-community. Until the end of the year, the Parliament will decide about a bill to ban Bitcoin & co. Observers fear in it billions of dollars in losses for the Indian economy.

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