Summing up To sum up, India has not yet considered regulatory initiatives specifically addressing SWFs. Existing provisions in regard to fit-and-proper or take-over code are, however, applicable to all investors, including SWFs. Currently, the pros and cons for the establishment of an Indian SWF, as generally understood now, are still under debate.
In this regards, blockchain technology is expected to enable “smart contracts” for various purposes, such as continuously adjusting automobile insurance fees in accordance with driving behavior of each policyholder. As this case illustrates, smart contracts might have the potential to overcome “moral hazard” by leveraging new information technology.