In the context of increasing traction in bitcoin in some parts of the globe, there is still a need for better understanding of the crypto currency, according to Jayesh Ranjan, Principal Secretary, IT Electronics & Communications, Government of Telangana.
Speaking at the inaugural session of a conference on bitcoin, biggest domains and gaming space held here on Monday, Ranjan said adequate protocols should be worked out as to how governments could leverage bitcoin and protect investors’ interests.
A global consensus on bitcoin-related issues might be of help going forward, the official added.
Referring to blockchain, the official said that the Telangana Government was keen on promoting blockchain-related applications in important areas like land records, among others.