Ambani backs privacy, crypto bills

Ambani backs privacy, crypto bills
© Provided by The Times of India

TNN

Mumbai: Reliance Industries (RIL) chairman Mukesh Ambani has backed India’s proposed data privacy and cryptocurrency bills. “We are on the verge of introducing the data privacy bill, and the cryptocurrency bill. I think we are on the right track,” Ambani said in an interview at the Infinity Forum, hosted by International Financial Services Centres Authority, GIFT City and Bloomberg. Ambani’s comments come as the government plans to mandate a minimum investment in digital currencies while not allowing them as legal tender.

Ambani, who is also India’s wealthiest man, is a big believer in blockchain technology. “I believe in blockchain technology and this is different from cryptocurrency,” he said. “Blockchain is very important for a trust-based equitable society.” Ambani further said, “We are witnessing the fourth revolution, that is the digital-first revolution, where digital will be life for billions of people — which will be used in all technology — five or six kinds of technology will merge together, they will transform the whole world.”

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