The Indian Constitute of Engineering science Madras (IITM) has become a member of the Hedera Hashgraph council for decentralized governance.

IITM is one of the summit institutes for technical education in Republic of india, which falls under the direct jurisdiction of India'due south Ministry of Didactics. As a member of the Hedera Governing Council, IITM has become one of the 39 global organizations that run initial network nodes for governing the Hedera public ledger built on distributed ledger engineering science (DLT).

In addition to advancing DLTs capabilities in education and research, IITM plans to exam apply cases effectually public blockchains for payments via Hedera Consensus Service and the Hedera Token Service.

Professor Prabhu Rajagopal from IITM'southward Center for Nondestructive Evaluation spoke near helping other council members identify sustainable use cases:

"I am peculiarly enthused by the opportunity to examination and calibration our solutions in blockchain-backed information systems in healthcare, manufacture and digital media."

In May, IITM researchers launched a blockchain-based telephone application called BlockTrack that helps users and organizations digitize and manage medical records.

Related: India to use Ethereum blockchain to verify diploma certificates

Complimenting the initiatives of national institutions, the Maharashtra Country Board of Skill Evolution recently deployed an Ethereum blockchain-based tamper-proof credentialing organisation called LegitDoc.

According to LegitDoc CEO Neil Martis, mainstream institutions, including the National Institute of Engineering science and Ashoka University, are in talks to implement similar systems to counter document forgery.

Related: India'south Income Tax Department may soon target crypto trades and ecosystem

Indian regulators are reportedly in talks to pass a crypto bill that would tax cryptocurrency traders, but entrepreneurs believe the move could potentially push cryptocurrencies into the mainstream.

Equally Cointelegraph reported, the Income Tax Department of India is keen on taxing earnings made through crypto trades and exchanges. However, the upcoming taxation laws will not classify cryptocurrencies as a valid asset class.

Crypto experts in India see this move as bullish and believe that crypto tax will eventually provide regulatory clarity for Indian investors.