Bitcoin Forum

MUMBAI: Exactly two years after it issued a caution against use of virtual currency bitcoin, the Reserve Bank of India has come around to appreciate the strengths of the underlying 'blockchain' technology. Blockchain is a digital platform which records all bitcoin transactions in a way that cannot be altered.

In December 2013, the RBI had cautioned users, holders and traders of virtual currencies (VCs), including bitcoins, about the potential financial, operational, legal, customer protection and security-related risks that they are exposing themselves to. This week, in its report on financial stability, the RBI said that even as opinion diverged on the virtual currency itself, the key technical concept of 'blockchain' which underpins such cryptocurrency systems is drawing more attention now.

http://timesofindia.indiatimes.com/business/india-business/Tech-behind-bitcoin-can-help-checkcounterfeiting-RBI/articleshow/50329014.cms

It is interesting to see central banks actually begin to appreciate bitcoin and the blockchain.
Quite a change of heart from the RBI. India can be a huge market for bitcoin, if opinions about it change.

Most central banks are cautious about bicoin, but support of block chain technology. Hope they will support bitcoin in the future.

It is usually banks which are gung ho about blockchain technology, primarily because of its potential to cut costs.
Central banks usually maintain a cautious stance. RBI is talking about security, which is good.