India Blockchain Alliance (IBA), a group of individuals in blockchain industry, has announced its association with Economic Council of India (ECI). The partnership aims to expand blockchain technology and various applications it offers regarding data privacy and security, along with economic growth and social impact for enterprise, individuals, as well as micro, small and medium enterprises (MSMEs).

“This marks a partnership as together we aim to work towards economic development and social empowerment leveraging blockchain technologies to implement socially relevant and economically impactive projects, globally and pan India. Through this alliance, we seek to help organisations bring a technology disruption. It also aims towards economic reform and social impact across sectors, and will try to be a step in driving the nation towards its goal of a five trillion economy,” Raj Kapoor, founder, India Blockchain Alliance, said.

According to Saurav Agarwal, director general, ECI, their partnership with IBA is intended to be in synchronisation with raising incomes and creating job opportunities, especially for youth entrepreneurs, women entrepreneurs, startups, professionals, high net-worth individuals (HNIs), and MSME sector.

India Blockchain Alliance is a group of individuals, who aim to build blockchain research, development, use cases, products, and knowledge, with the intention to benefit the world. As per the group’s official website, it represents Indian businesses and business professionals participating in digital economy through blockchain technology. 

As stated in Economic Council of India’s official website, it is a not-for-profit organisation, managed by a team of entrepreneurs, engaged in verticals of businesses and services involved in business advocacy, stakeholders’ management, policy dialogue and intervention, strategic alliances, partnerships, government affairs, and relationship management. The organisation aims to promote and develop growth of an individual, entrepreneurs, corporates, society, institutions, government, and nation, on national cum international basis through means of research, studies, expert opinions, statistical analysis, policy dialogue, white paper submission, debates, bilateral cum multilateral cooperations, among others, for economic growth and development.