Maharashtra, India’s wealthiest state, is drafting a policy to put state-owned assets on-chain and tokenize them as a way to raise money for new infrastructure. The plan would cover assets including power transmission infrastructure, with proceeds earmarked for new transmission lines and energy storage facilities. Praveen Pardeshi, CEO of MITRA, said transmission lines themselves could be partially tokenized, with 40% to 50% of an asset potentially offered in tokenized form. Token holders would then share in transmission revenue, while newly raised capital would go toward building additional transmission lines and solar energy storage centers. Pardeshi also said tokenization should not be viewed as privatization, but as a mechanism that allows more citizens to take part in building public assets. Maharashtra accounts for about 14% of India’s nominal GDP and has a population of roughly 130 million. The state is also planning what it describes as India’s first law focused on blockchain-based property tokenization.
Maharashtra, India’s wealthiest state, is drafting a policy to tokenize state-owned assets on-chain, including power transmission infrastructure, to raise funds for new infrastructure projects.
According to the plan outlined in the report, the money raised would be used to build new transmission lines and energy storage facilities. Praveen Pardeshi, CEO of MITRA, said transmission lines themselves could be partially tokenized, with 40% to 50% of the assets made available in tokenized form. Token holders would be entitled to share transmission revenue, while the newly raised funds would be directed to more transmission lines and solar energy storage centers.
Maharashtra accounts for about 14% of India’s nominal GDP and has a population of around 130 million. Pardeshi said tokenization is not the same as privatization, but a way to let more citizens participate in the construction of public assets. The state also plans to draft what it says would be India’s first blockchain property tokenization law.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
