Blockchain Will Check Mischievous Middlemen: PM Modi

It is no surprise that the Indian Prime Minister has demonstrated his will to make India Digital and to that effect suggested ‘the youth of the country’ to utilise and promote artificial intelligence (AI) and the blockchain technology. He seems to be very serious about the blockchain model and his speeches are a clear indicator of his wishes.

“India’s youth can lead a revolutionary movement using AI and blockchain technologies with a value addition,” PM Narendra Modi said during a convocation ceremony held recently at Sher-e-Kashmir University of Agricultural Sciences and Technology, Jammu.

It is well known that India’s agricultural sector is the principal means of livelihood for over 58% of the national population, in rural households. However, this sector is plagued with various difficulties. Modi highlighted one such problem being “the bad quality of seed, fertilizers and medicines” being supplied to the farmers, which ultimately is leading to their low productions and hampering their income, too.

“With blockchain technology, this problem can also be controlled. Through a real-time monitoring of the supply chain, the technology can bring in transparency in the agricultural trade — starting from the production process to making it available for the farmers as products can be examined at every stage.”

“This will have a complete network comprising farmers, processing units, regulatory authorities and consumers. Because one affiliated to this chain can keep an eye on this, therefore, the scope of corruption will also be reduced. Most importantly, this will check the mischievous acts of the middlemen and the harvest will not go wasted,” PM Modi said.

In some parts of the country, the farmers are already utilising it for a limited use.

“For instance,” Modi said, “using drone technology in pest control has slowly started. Besides this, in soil mapping and community pricing, the technology has been put to use.”

He recently tweeted on 19th May

“Embracing AI and Blockchain Technology would be beneficial for our agriculture sector.”

Many Indian states like Karnataka, Telangana, Andhra Pradesh and Maharashtra are already on their way to exploring the potential of blockchain, IoT and AI technologies’ application in e-governance. Kerala has even established a ‘Blockchain Academy’ to explore its potential.