Union minister Anurag Thakur on Saturday said the government is open to evaluate and explore new technologies, including cryptocurrencies, for improving governance. Prime Minister Narendra Modi himself is a strong advocate of embracing technology in various aspects of governance, the Minister of State for Finance said while addressing an event organised by Entrepreneurs' Organisation - EO Punjab. "Let me say that we welcome innovation and new technology...blockchain is a new emerging technology. Cryptocurrency is a form of virtual currency. I firmly believe that we must always evaluate, explore and encourage new ideas with an open mind," he said. A High-Level Inter-Ministerial Committee (IMC) was constituted under the Chairmanship of Economic Affairs Secretary on digital currencies and it has submitted its report.