PM’s Keynote On Cryptocurrency At The Sydney Dialogue

Prime Minister Narendra Modi today emphasised the effect of the Digital Age, saying, "We are in a time of transformation" that occurs just once in a generation, where technology and data are becoming new weapons. From November 17 to 19, the Sydney Dialogue is taking place. The Australian Strategic Policy Institute initiated the campaign.

India is going through five major transformations, according to Prime Minister Narendra Modi.

1) India is developing the world's most extensive public information infrastructure. Over 1.3 billion Indians have a digital identity, and 600,000 villages will be connected to broadband and the UPI, the world's most efficient payment infrastructure, in the near future.
2) Digital technology is being used for governance, inclusiveness, empowerment, connectivity, and the delivery of benefits and welfare.
3) India's startup ecosystem is the world's third-largest and fastest-growing.
4) India's manufacturing and service industries, as well as agriculture, are undergoing a huge digital change.
5) India is making a concerted effort to prepare for the future.

"We are investing in developing indigenous capabilities in telecom technology such as 5G and 6G. India is one of the leading nations in artificial intelligence and machine learning, especially in the human-centered and ethical use of artificial intelligence. We are developing strong capabilities in Cloud platforms and cloud computing", Prime Mister said.

He also stated that all democratic nations must work together to guarantee that cryptocurrencies do not fall into the wrong hands.

" Take crypto-currency or bitcoin for example. It is important that all democratic nations work together on this and ensure it does not end up in the wrong hands, which can spoil our youth," said PM Modi.

In his first public comments on the matter, Indian Prime Minister Narendra Modi said on November 18, 2021, that all democratic nations must work together to ensure that bitcoin "would not wind up in the wrong hands, which can corrupt our youth."