PM Modi Advocates Global Framework on Cryptocurrencies and Ethical Use of AI

Aug 28, 2023 - 13:15
PM Modi Advocates Global Framework on Cryptocurrencies and Ethical Use of AI

PM Modi Advocates Global Framework on Cryptocurrencies and Ethical Use of AI

New Delhi, August 28, 2023 – Prime Minister Narendra Modi has called for the establishment of a comprehensive global framework to regulate cryptocurrencies and ensure their responsible and secure usage. Speaking at a high-level technology summit, PM Modi emphasized the need for collaboration among nations to address the challenges and opportunities presented by cryptocurrencies while also stressing the importance of ethical and transparent utilization of artificial intelligence (AI) technologies.

In his address, Prime Minister Modi underscored the potential of cryptocurrencies to reshape financial systems and transactions, acknowledging their role in promoting financial inclusion and innovation. However, he also cautioned against the risks associated with unregulated and unchecked use of cryptocurrencies, including concerns related to money laundering, cybercrime, and potential disruptions to the traditional financial order.

PM Modi's call for a global framework on cryptocurrencies echoes the growing consensus among world leaders about the necessity of coordinated efforts to regulate these digital assets. He expressed India's commitment to playing an active role in shaping international discussions and policies on this front.

Furthermore, the Prime Minister emphasized the significance of harnessing artificial intelligence for the betterment of humanity. He stressed the need for an ethical approach to AI that prioritizes transparency, fairness, and accountability in its deployment. He urged the global tech community to collaborate in developing AI solutions that are both innovative and responsible, and that uphold human values and rights.

The summit, attended by tech leaders, policymakers, and experts from around the world, provided a platform for discussing the evolving landscape of digital technologies, their impact on societies, and the avenues for global cooperation.

The Prime Minister's address resonated with the attendees, who commended India's commitment to ensuring that technological advancements are aligned with ethical principles and the well-being of people. As discussions continue on the regulation of cryptocurrencies and the responsible use of AI, PM Modi's call for a harmonized global approach reflects the nation's vision for a digitally empowered and secure future.

In an era defined by rapid technological transformation, Prime Minister Modi's vision of harnessing the potential of cryptocurrencies and AI while safeguarding against potential risks exemplifies India's forward-looking stance on the responsible use of emerging technologies.

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