India's "National Blockchain Strategy" draft proposes the central bank of India to issue digital currency CBDR

The National Intelligent Governance Institute (NISG), a non-profit public institution registered by the Indian government, has now submitted the National Blockchain Strategy. The draft explains and introduces the challenges and impacts of blockchain, smart contracts, and blockchain technology adoption. In addition, the strategy document states that it is necessary to clearly distinguish between different types of blockchain systems. With the exception of other uses of blockchain, the draft strategy proposes that the Indian government and the Reserve Bank of India issue a central bank digital INR (CBDR) and support decentralized applications. In short, the draft emphasizes that laws and regulations should be based on the functions performed by the blockchain and not on the technology itself. The draft also proposes the establishment of an agency to coordinate blockchain strategies between state agencies.