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Home National & International

PM Modi talks about cryptocurrency, India’s digital revolution at Sydney Dialogue

The PM also urged that it is important that all democratic nations work together on this and ensure that it does not end up in the wrong hands, which can spoil youths.

Lagatar News by Lagatar News
November 18, 2021
in National & International
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Lagatar24 Desk

New Delhi, Nov.18: Prime Minister Narendra Modi addressed the Sydney Dialogue on Thursday via video conferencing. He discussed India’s digital transformation and plans to become one of the world’s “top nations in artificial intelligence and machine learning.” PM Modi also asked all democratic countries to work together to guarantee that cryptocurrencies such as Bitcoin “do not wind up in the wrong hands” during his speech.

PM Modi began his remarks by saying, “You have invited me to make the keynote address at the inaugural Sydney Dialogue, which is a huge honour for the people of India. This, in my opinion, acknowledges India’s vital role in the Indo-Pacific region as well as the rising digital globe.”

“Everything around us is changing as a result of the digital age. Politics, the economy, and society have all been shaped by it. It raises fresh problems about sovereignty, governance, and the rule of law. International competitiveness, power, and leadership are all being reshaped as a result. However, new threats and modes of warfare are emerging across a wide range of concerns, from the seabed to cyberspace to space,” PM Modi said.

He further added that data and technology are becoming new weapons. The most important feature of democracy is its openness. At the same time, vested interests should not be enabled to exploit this transparency. Indians are transforming past obstacles into chances to jump into the future.

According to the prime minister, India, as a democracy and a digital leader, is prepared to collaborate with others for our common prosperity and security. The digital revolution in India is anchored in our democracy, demographics, and economic size. It’s propelled by our youth’s entrepreneurial spirit and inventiveness.

“The greatest product of technology today is data. In India, we have created a robust framework of data protection, privacy and security. And, at the same time, we use data as a source of empowerment of people… We are one of the largest consumers of data,” he added.

The PM also urged that it is important that all democratic nations work together on this and ensure that it does not end up in the wrong hands, which can spoil youths.

Addressing The Sydney Dialogue. https://t.co/AYQ5xajhRD

— Narendra Modi (@narendramodi) November 18, 2021

 

 

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