India: 5G deployment to accelerate adoption of blockchain technology, says expert
Plans to deploy 5G, the fifth-generation technology standard for mobile broadband networks, could be the next catalyst to change the pace and direction of blockchain and metaverse technology adoption in India, according to several tech industry heavyweights.
The Indian Express spoke to several of these experts, including Sunil David, co-chair of the IET Future Tech Panel’s working group on digital communications; Dr. Ravi Chamria, CEO and co-founder of Zeeve, a blockchain infra-automation platform; and Edul Patel, CEO and co-founder of Mudrex for digital assets.
Sunil David shared that 5G broadband will drive a new era of Internet of Things (IoT) devices. The low latency, high speeds and massive capacity of 5G will enable smart cities, driverless vehicles, smart homes and other sensor-driven improvements for industrial use.
But without blockchain technology, the data generated by the communication of these devices with themselves over the internet will not be private or secure, he said. Ravi Chamria added that the design of 5G makes it highly beneficial for distributed and decentralized IoT application ecosystems.
Edul Patel pointed out that another important benefit of 5G will be to improve the user experience of metaverse platforms. He also noted that the combination of blockchain technology and 5G could reduce consumer costs for both cross-border payments and cross-border mobile phone coverage.
“Completely replicating the physical world in a virtual ecosystem requires a lot of Internet bandwidth. And the faster the Internet, the faster and better the rendered version of the physical world will be. Potentially, 5G has the potential to enable a real-time rendering of different physical environments,” Patel explained.
India, 5G and blockchain technology
The experts’ opinion comes on the back of India’s Prime Minister’s announcement that 5G mobile services will start soon. Narendra Modi in his independence speech said that all necessary infrastructure is in place to enable 5G coverage to reach even villages as reported by Mint.
According to a Reuters report, India began auctioning 5G broadband spectrum back in July. The process attracted bids worth over $19 billion from telecom companies, with Reliance Industries’ Jio emerging as the largest user.
Globally, experts also agree that 5G broadband will change the game for blockchain technology. In particular, the Bitcoin blockchain has been identified as one of the ideal ledgers to record data from hundreds of billions of IoT devices.
Watch: Dr. Craig Wright’s Keynote: A Better Internet with IPv6 and BSV Blockchain at the BSV Global Blockchain Convention
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