Indian Express, an Indian daily news outlet were told by the head of the country’s telecom regulator that the US should not “disadvantage” developing technologies such as blockchain because of expected regulations.
Ajit Pai, chairman of the US Federal communications commission (FCC) called for a discussion at the Indian mobile congress 2018 with facebook and google in regards to transparency.
He explained that the US regulations governing telecoms first became legal in the 1930s and even amendments posed challenges for officials trying to get grips with technology like blockchain, Artificial intelligence(AI) and machine learning.
He told the publication that: “[T]hese are very dynamic industries and one can foresee in coming decades – things like artificial intelligence, machine learning, the blockchain, quantum computing will have a significant impact on how communications networks operate,” proceeding :
“We don’t have jurisdiction over these firms but that’s one of the things we are trying to learn about. What are the emerging technologies that will have an effect on this space and how should our thinking about regulation evolve.”
A research was done earlier this year which predicts that blockchain in telecoms would become $1 billion industry by 2023. The topic of proper policy for surrounding industries is still a topic to talk about in both the US and India.
The latter is presently seeing turmoil like cointelegraph reported before over a blanket prohibition on working with businesses related to cryptocurrency with senior officials allegedly erroneously claiming the technology was illegal.