The Indian state of Uttar Pradesh (UP) will pilot a peer-to-peer (P2P) solar power trading project in partnership with Australian blockchain energy company Power Ledger. The state power utility UP Power Corporation Limited and UP New and Renewable Energy Development Agency have partnered with Power Ledger to launch a trial of P2P solar energy trading to examine its practicability, according to a Nov. 28 press release. The first phase of the project is set to be completed by March 2020. During the trial, Power Ledger will integrate its blockchain-based platform with smart meter systems to enable residents with rooftop solar …

The Indian government is working on a national blockchain strategy in order to expand the technology’s adoption in the country. As the India Times reported on Nov. 27, India’s Ministry of Electronics and Information Technology (MeitY) said that it recognizes the potential of blockchain technology and the need for the development of a shared infrastructure to carry out related use cases. The Ministry added that it is working on the “National Level Blockchain Framework.” The Minister of State for Human Resource Development, Communications and Electronics and IT, Sanjay Dhotre, noted blockchain’s capability and potential in sectors such as governance, banking, …

In April 2018, the Reserve Bank of India, the country’s central bank, initiated a major crackdown on the trade and purchase of cryptocurrencies such as Bitcoin within its borders. RBI Deputy Governor Bibhu Kanungo declared that all RBI-regulated entities are to “stop having business relationships with entities dealing with virtual currencies forthwith and unwind the existing relationships in a period of three months time.” This set a series of events in motion that would disrupt the blossoming crypto ecosystem in India. Crypto exchanges shut down due to regulatory pressure and crypto entrepreneurs were arrested. Despite this, in less than 18 …

Binance has acquired the well-known Indian crypto exchange WazirX, bringing easier cryptocurrency access to a population of over one billion. According to an announcement published on Nov. 21, users will be able to use Indian rupees (INR) to buy and sell crypto via the Binance Fiat Gateway as early as Nov. 25. Major morale boost for the Indian community During the first quarter of 2020, WazirX’s auto-matching engine will be integrated into the Binance Fiat Gateway so that Binance.com users will be able to directly place orders on the flagship exchange to purchase Tether (USDT) against INR. With this integration, …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week BlockShow Asia 2019: Binance’s CZ speaks publicly about China’s digital currency BlockShow Asia 2019 was held in Singapore this week, leaving us with plenty of stories to chew over. Binance’s Changpeng Zhao was among the speakers, and he predicted that the central bank digital currency being developed by China will be based on blockchain. Explaining …

Cryptocurrencies, with a market capitalization of over $200 billion, can no longer be dismissed as just a fad. While still making up only a tiny fraction of overall global financial markets, they have matured from the ranks of fledgling startups to being leveraged by large enterprises for use cases ranging from global payments, asset-backed tokens for metals and commodities, fiat currency-equivalent digital coins, the Internet of Things, decentralized cloud storage and more. Earlier this year, JPMorgan Chase announced its United States dollar-equivalent JPM Coin for business-to-business payments; a consortium of large banks announced Fnality International, which aims to facilitate cross-border …

The Indian government will not be considering a cryptocurrency-related draft bill during the winter session of Parliament as was previously planned. The draft bill entitled “Banning of Cryptocurrency & Regulation of Official Digital Currencies” is not included in the session agenda issued in India’s lower house of parliament, Lok Sabha, on Nov. 14. In August 2019, the Indian government stated that the draft bill would be introduced in Parliament in the winter session, which takes place between Nov. 18 and Dec. 13. The proposed bill suggests a complete ban on crypto As reported by Cointelegraph, the draft legislation purportedly intends …

According to one official in attendance, members of international association BRICS discussed the creation of a new cryptocurrency at a recent summit. On Nov. 14, Russian financial news outlet RBC reported that the director-general of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev said that the BRICS Business Council supported the idea of creating a single payment system for settlements between the member countries at the 11th annual BRICS Summit in 2019, held in Brazil. Creating a “BRICS” cryptocurrency? The member nations — namely, Brazil, Russia, India, China and South Africa — are reportedly planning to develop a single payment …

Australian blockchain energy firm Power Ledger and Indian electricity distribution company BSES Rajdhani Power Limited (BRPL) have completed a peer-to-peer (P2P) solar power trading trial in the country. Power Ledger announced the news in a press release shared with Cointelegraph on Nov. 14, detailing that it carried out a large-scale P2P energy trading trial in the Dwarka region, South West Delhi, which initially comprised 5-6 megawatts (MW) of already existing solar infrastructure serving an array of gated communities. Monetization of solar energy assets investments The project enabled residents with rooftop solar infrastructure to sell excess solar energy to neighboring households. …

India is leaving itself vulnerable to corruption by attempting to ban cryptocurrencies such as Bitcoin (BTC), says Tim Draper. Speaking to California-based media outlet Indica on Oct. 31, the pro-Bitcoin VC investor called on prime minister Narendra Modi to rethink the current hostile environment towards crypto. Draper to Modi: don’t “go back to old ways” India banned banks servicing industry businesses in 2018, with government think tanks now recommending a full crackdown on ownership and use. A court battle to decide the final outcome saw its latest delay last month. “I am hoping Modi becomes the honest politician, but when …

India’s Defence Minister believes blockchain technology, artificial intelligence (AI) and big data will form part of the future of warfare. As local daily news outlet Times of India reported on Nov. 4, Rajnath Singh highlighted the potential of blockchain, along with big data and AI, in defense operations. Warfare’s new “blockchain paradigm” Speaking to a range of delegates from 80 countries in Delhi, Singh appeared under no illusion about India’s plans to access innovation as the global industry evolves. He explained: “The role of AI, big data and blockchain technologies has already revolutionized the existing paradigm of warfighting. The defence …

The Indian state of Tamil Nadu is reportedly working on a state-level policy for blockchain technology and artificial intelligence (AI). On Oct. 31, local news outlet The Times of India reported that Tamil Nadu, the 10th-largest state in India, is working on separate policies for blockchain and AI which could be released as soon as the next 10 days. Tamil Nadu’s blockchain and AI policies are expected to establish ground rules on how the state government can apply the emerging technologies for service delivery and solving governance issues. Santosh Misra, CEO of the state’s e-Governance Agency commented: “We are working …