Mukesh Ambani calls data the new oil

Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd, said that he was a big believer in blockchain technology. I believe in blockchain technology and this is different from cryptocurrency, he said, adding, Blockchain is very important for a trust-based, equitable society.

Billionaire Mukesh Ambani today backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure.