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1  Alternate cryptocurrencies / Tokens (Altcoins) / [ANN]Leverj Bounty/Airdrop Tokens Now Available for Redemption[BOUNTY] on: April 18, 2018, 02:57:06 PM
The LEV airdrop tokens are now available for redemption

After much consideration and communication with members of the community, it has been decided that the airdrop tokens will be made available for redemption sooner than initially expected.

Airdrop participants may visit https://leverj.github.io/air-drop/ to redeem their tokens. Simply enter the ETH address used in your airdrop application in the top box. This will show you how many airdrop tokens have been allocated to your address. These tokens are now available for withdrawal.

How It Will Work
To minimize risk and potential loss of airdrop/bounty tokens, rather than all 4MM LEV being made available at once, only 200K will be sent to the airdrop contract to begin. Each day another 200K tokens will be added to the airdrop contract until all 4MM tokens have been made available for redemption.



It is important that you make sure that the amount of tokens under LEV BALANCE is greater than the amount of tokens in LEV AVAILABLE IN LEVERJ BOUNTY before sending your transaction. If there are not enough tokens in the contract balance, you’re tx will fail. This is not catastrophic, however it will be gas wasted. We will do our best to ensure that the contract balance stays above 100k tokens, but in the case that you go to redeem and notice a balance lower than your available allocation, please ping us on telegram and we will refill the balance right away.

Remember that you are setting the amount of ETH to 0 in the transaction. This means you are not sending any Ether. You will only need enough to pay for gas. This transaction uses a gas amount of roughly 51000. To be safe, a gas price of 1 gwei and gas limit of 100000 is recommended.



NOTE: AIRDROP PARTICIPATION IS CLOSED. REDEMPTION IS ONLY OPEN TO THOSE WHO HAVE ALREADY PARTICIPATED IN THE AIRDROP/BOUNTY PROGRAM.


https://blog.leverj.io/airdrop-distribution-contract-how-to-claim-your-tokens-8a27ad5a941a
2  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN][BOUNTY] Leverj Airdrop Tokens Now Available for Redemption on: April 18, 2018, 02:54:31 PM
The LEV airdrop tokens are now available for redemption

After much consideration and communication with members of the community, it has been decided that the airdrop tokens will be made available for redemption sooner than initially expected.

Airdrop participants may visit https://leverj.github.io/air-drop/ to redeem their tokens. Simply enter the ETH address used in your airdrop application in the top box. This will show you how many airdrop tokens have been allocated to your address. These tokens are now available for withdrawal.

How It Will Work
To minimize risk and potential loss of airdrop/bounty tokens, rather than all 4MM LEV being made available at once, only 200K will be sent to the airdrop contract to begin. Each day another 200K tokens will be added to the airdrop contract until all 4MM tokens have been made available for redemption.



It is important that you make sure that the amount of tokens under LEV BALANCE is greater than the amount of tokens in LEV AVAILABLE IN LEVERJ BOUNTY before sending your transaction. If there are not enough tokens in the contract balance, you’re tx will fail. This is not catastrophic, however it will be gas wasted. We will do our best to ensure that the contract balance stays above 100k tokens, but in the case that you go to redeem and notice a balance lower than your available allocation, please ping us on telegram and we will refill the balance right away.

Remember that you are setting the amount of ETH to 0 in the transaction. This means you are not sending any Ether. You will only need enough to pay for gas. This transaction uses a gas amount of roughly 51000. To be safe, a gas price of 1 gwei and gas limit of 100000 is recommended.



NOTE: AIRDROP PARTICIPATION IS CLOSED. REDEMPTION IS ONLY OPEN TO THOSE WHO HAVE ALREADY PARTICIPATED IN THE AIRDROP/BOUNTY PROGRAM.


https://blog.leverj.io/airdrop-distribution-contract-how-to-claim-your-tokens-8a27ad5a941a
3  Economy / Service Discussion / [WEBINAR] Zero Knowledge API Keys - A Solution to DEX Trading Authentication on: March 16, 2018, 05:14:56 PM
Please join us for our next webinar with Leverj Co-founders Bharath Rao and Nirmal Gupta as they dive into the practical application of Zero-Knowledge API Keys in the DEX space.

This week’s webinar is on Friday, March 16th from 3pm-4pm EST

Join the webinar from your computer, tablet or smartphone.
https://global.gotomeeting.com/join/540913549

You can also dial in using your phone.
United States: +1 (669) 224-3412

Access Code: 540-913-549

Make sure to read up on Nirmal's recent post on ZK API Keys before the webinar!!
https://blog.leverj.io/zero-knowledge-api-keys-43280cc93647
4  Alternate cryptocurrencies / Service Discussion (Altcoins) / [VOD] 2nd Leverj Product Webinar - Importance of Market Makers on Exchanges on: March 05, 2018, 09:23:51 PM
Importance of Market Makers on Exchanges
With Swapman and Bharath Rao of Leverj

5  Alternate cryptocurrencies / Tokens (Altcoins) / [ANN] LEVERJ announces market-making partnership with Smart Contract Japan on: March 04, 2018, 11:32:16 PM
Announcing Market Making Partnership with Smart Contract Japan

Liquidity is the lifeblood of any exchange. You can have the best technology and design in the game, but without an orderbook with depth that traders can interact with, you will fail.

Leverj has made it a high priority to engage with key players in Ethereum markets ever since working with ConsenSys on the token sale. We especially realise the importance of proactively solving the “chicken and egg” issue in market liquidity. on exchanges

To this end, we are proud to announce a new partnership with Smart Contract Japan, one of the largest Ether traders in the world. Smart Contract has been an early investor in cryptocurrencies, including as a supporter of many token projects built on top of Ethereum. Over the years it has contributed significantly to the development of decentralised technology in the blockchain space.

Leverj has a strong team of quants, computer scientists, and financial engineers who are experts in programmatic trading with various crypto exchanges. This technical expertise, combined with the dominant market position of Smart Contract, will bring liquidity for a variety of products on Leverj’s own platform and Ethereum markets in general. The agreement with Smart Contract covers all financial products that will be launched on Leverj.

One of the struggles of new financial instruments like ETH/USD futures or the burgeoning ERC20 token market is the lack of reliable flow on exchanges. When volume and action on an exchange is low, new entrants are less eager to get involved in our markets.

This partnership will go a long way to adding value in these growing new markets and providing risk management tools to ETH and tokenholders on Leverj.


https://blog.leverj.io/announcing-market-making-partnership-with-smart-contract-japan-9b26b21a3866
6  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN] LEVERJ announces market-making partnership with Smart Contract Japan on: March 04, 2018, 11:31:17 PM
Announcing Market Making Partnership with Smart Contract Japan

Liquidity is the lifeblood of any exchange. You can have the best technology and design in the game, but without an orderbook with depth that traders can interact with, you will fail.

Leverj has made it a high priority to engage with key players in Ethereum markets ever since working with ConsenSys on the token sale. We especially realise the importance of proactively solving the “chicken and egg” issue in market liquidity. on exchanges

To this end, we are proud to announce a new partnership with Smart Contract Japan, one of the largest Ether traders in the world. Smart Contract has been an early investor in cryptocurrencies, including as a supporter of many token projects built on top of Ethereum. Over the years it has contributed significantly to the development of decentralised technology in the blockchain space.

Leverj has a strong team of quants, computer scientists, and financial engineers who are experts in programmatic trading with various crypto exchanges. This technical expertise, combined with the dominant market position of Smart Contract, will bring liquidity for a variety of products on Leverj’s own platform and Ethereum markets in general. The agreement with Smart Contract covers all financial products that will be launched on Leverj.

One of the struggles of new financial instruments like ETH/USD futures or the burgeoning ERC20 token market is the lack of reliable flow on exchanges. When volume and action on an exchange is low, new entrants are less eager to get involved in our markets.

This partnership will go a long way to adding value in these growing new markets and providing risk management tools to ETH and tokenholders on Leverj.


https://blog.leverj.io/announcing-market-making-partnership-with-smart-contract-japan-9b26b21a3866
7  Economy / Trading Discussion / Trader Talk with Bharath and Velo of Leverj on: February 23, 2018, 05:18:22 PM
A new video has just been released of Leverj CEO/Founder Bharath Rao and community manager Velo discussing trading in the crypto space.



20 year trading vet Bharath Rao shares insights with fellow trader Velo about futures trading
8  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN][EXCHANGE] The First Leverj Product Update [Webinar] on: February 15, 2018, 05:15:33 PM
Hello!

Every other week we will be pushing out new updates from the Leverj product, and we would like to invite the community to share in the process.
With each new product update, we will hold a live webinar with Swapman as he takes us through each feature and addition.


Leverj Product Discussion
Fri, Feb 16, 2018 3:00 PM - 3:30 PM EST


Please join our webinar from your computer, tablet or smartphone.
https://global.gotomeeting.com/join/208772341

You can also dial in using your phone.
United States: +1 (786) 535-3211

Access Code: 208-772-341

First GoToMeeting? Let's do a quick system check: https://link.gotomeeting.com/system-check

What will be covered? Check it out in Swap's latest post:
https://blog.leverj.io/leverj-token-spot-exchange-ui-design-mockups-42d9a3184ad
9  Alternate cryptocurrencies / Tokens (Altcoins) / LEVERJ ICO IN FINAL HOURS - AMA WITH CEO AND CTO STARTING SOON on: December 06, 2017, 06:15:23 PM
Quote
Welcome to the first official Leverj AMA with CEO Bharath Rao and CTO Nirmal Gupta!
The AMA start was announced at 7pm CET (1pm EST, 6pm GMT) on December 6, 2017. Please post questions until then, which the team will answer to based on highest upvotes and availability.
With you today:
Bharath Rao /u/coinpit
Founder/CEO Entrepreneur. Trader. Techie. Leader. Blogger. Speaker. 10 year Wall St. Veteran. MS Computer Engineering from Syracuse University.
Nirmal Gupta /u/coinpit_nirmal
CoFounder/CTO Full Stack Developer. 10 Years on Forex Trading Software. BS Aerospace Engineering from IIT Kanpur.
Alexandra Ward (as moderator) /u/velo_coinpit
Crypto Trader and Personality. Administrative role in numerous trading communities.
NOTE: Please refrain from posting replies to questions unless a team member has already replied. Keep questions clear and concise.
AMA will officially begin in one hour!

Please begin posting questions now

https://www.reddit.com/r/Leverj/comments/7hzsmh/leverj_ama_with_ceo_bharath_rao_and_cto_nirmal/
10  Alternate cryptocurrencies / Announcements (Altcoins) / LEVERJ ICO IN FINAL HOURS - AMA WITH CEO AND CTO STARTING SOON on: December 06, 2017, 06:14:34 PM
Quote
Welcome to the first official Leverj AMA with CEO Bharath Rao and CTO Nirmal Gupta!
The AMA start was announced at 7pm CET (1pm EST, 6pm GMT) on December 6, 2017. Please post questions until then, which the team will answer to based on highest upvotes and availability.
With you today:
Bharath Rao /u/coinpit
Founder/CEO Entrepreneur. Trader. Techie. Leader. Blogger. Speaker. 10 year Wall St. Veteran. MS Computer Engineering from Syracuse University.
Nirmal Gupta /u/coinpit_nirmal
CoFounder/CTO Full Stack Developer. 10 Years on Forex Trading Software. BS Aerospace Engineering from IIT Kanpur.
Alexandra Ward (as moderator) /u/velo_coinpit
Crypto Trader and Personality. Administrative role in numerous trading communities.
NOTE: Please refrain from posting replies to questions unless a team member has already replied. Keep questions clear and concise.
AMA will officially begin in one hour!

Please begin posting questions now

https://www.reddit.com/r/Leverj/comments/7hzsmh/leverj_ama_with_ceo_bharath_rao_and_cto_nirmal/
11  Alternate cryptocurrencies / Tokens (Altcoins) / [ANN][ICO] 🔥🔥🔥 LEVERJ PUBLIC SALE OPEN NOW 🔥🔥🔥 [LEV] on: November 08, 2017, 10:33:33 PM


12  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN][ICO] 🔥🔥🔥 LEVERJ PUBLIC SALE OPEN NOW🔥🔥🔥 [LEV] on: November 08, 2017, 10:31:44 PM


13  Alternate cryptocurrencies / Tokens (Altcoins) / [ANN][ICO] LEV Whitelist Contribution is over, PUBLIC SALE OPEN NOW on: November 03, 2017, 05:55:47 PM
The whitelist is now closed.

We had over 2100 participants with a median contribution of 10 ETH!

The Leverj token sale for whitelist contributors will open this Saturday.

Details:

Opens: Saturday November 4, 2017 at 9PM UTC

Unix timestamp: 1509840000

Block: 4490483

Closes: Monday November 6, 2017 at 6PM UTC

Navigate to our landing page https://register.leverj.io/ and click the contribute tab.

For instruction please watch video

14  Alternate cryptocurrencies / Announcements (Altcoins) / [AMA] AMA WITH LEVERJ CEO BHARATH RAO BEGINS NOW on /r/ETHTRADER on: October 12, 2017, 10:52:27 PM
https://www.reddit.com/r/ethtrader/comments/760n2t/ama_w_leverj_founderceo_bharath_rao_starts_now/

Please join us, drop a question in the comments, and learn more about Leverj!!
15  Alternate cryptocurrencies / Tokens (Altcoins) / [ANN][ICO] LEVERJ Whitelist Closed, public sale OPEN NOW on: October 12, 2017, 10:11:35 PM















16  Alternate cryptocurrencies / Tokens (Altcoins) / [ANN][ICO] Leverj Announces Highly-Anticipated Token Generation Event on: October 11, 2017, 09:36:40 PM

Cryptocurrency Trading Platform Leverj Announces Highly-Anticipated Token Generation Event


NEW YORK, Oct. 11, 2017 /PRNewswire/ -- Leverj, the decentralized platform for cryptocurrency derivatives trading, has today announced its highly-anticipated Token Generation Event (TGE) for its ERC-20 token. This token, LEV, is intended to serve as a license to conduct transactions on the Leverj platform, in proportion to the percentage of tokens staked. The TGE will commence on November 7, 2017 and conclude on December 7, 2017. The token crowdsale will have a hard cap of 115,833 ETH.

Leverj CEO Bharath Rao said: "Leverj aims to render both traditional financial processes and cryptocurrency trading more efficient by eliminating the frictions typically associated with them. By eliminating custodial risk, the platform will offer cryptocurrency derivatives traders enhanced confidence in the stability of their investments. With the support of our community, we plan to implement a seamless non-custodial model of cryptocurrency trading that will offer heightened levels of security and usability."

Leverj aims to use blockchain technology to create a decentralized trading platform in order to improve custodial and counterparty risk, as well as to avoid identity leaks. In an environment in which even the largest and most security-focused exchanges have experienced a loss of funds due to hacking, there is a significant market need for an exchange in which users are given complete control of their assets. Leverj will adapt the most desirable features of derivatives trading to cryptocurrencies, and its revolutionary trading platform will feature advanced tools such as atomic stops and enhanced reporting, including historical trading information about cryptocurrencies. The platform will also include simulated trades, trade replays, and peer subscriptions to gain insight from highly-skilled traders.

Leverj will feature a dual-token system that integrates with the trading platform. The primary token, LEV has a fixed supply and represents the license to make transactions on the platform. The secondary token, FEE, will be used as an accounting mechanism, where Leverj trading fees, denominated in Ether, will be payable in FEE at a fixed ETH price to provide market demand and value. The FEE will be created in proportion to platform trading volume and be distributed to LEV holder who stake their tokens to activate their license. The primary goal of the dual-token system is to ensure that users have access to a liquid market and can receive a discount on the fees they would otherwise pay for in Ethereum.

400 million LEV tokens of the one billion total created will be available for purchase. The TGE is limited to non-residents of the United States and China. The Leverj crowdsale whitelist is available at https://register.leverj.io/. It will open on October 10, 2017* and close on November 1, 2017.*


Rao said: "We are excited to commence our TGE and finally bring the much-needed upgrade of a decentralized trading platform to the Ethereum blockchain. Ethereum's advanced capabilities, such as smart contract decentralized apps, make it feasible to decentralize custody of funds, in comparison with alternative protocols like Bitcoin. In addition, Ethereum is a vibrant, focused, and highly-organized community that we are confident will support Leverj as a high-performance, low-latency derivatives platform."

In addition, Leverj is backed by ConsenSys, a leader in blockchain technology, who will serve as a technical advisor to the project. Through extensive experience building software on the Ethereum platform, ConsenSys will provide unparalleled expertise on smart contracts, token design, and cryptographic security.

LEV tokens will be available for purchase using Ethereum. For more information, the Leverj whitepaper is available at: https://www.leverj.io/whitepaper.pdf.

Leverj CEO Bharath Rao is available for interview.

About Leverj  
Leverj is a decentralized cryptocurrency derivatives trading platform. Using the Ethereum blockchain, Leverj will provide novice and experienced traders with a more secure and seamless platform for digital currency exchange. The platform will also offer services such as managed and simulated trading, historical data replay, mentorship by experienced traders, and a marketplace for trading indicators and strategies.

Telegram: https://t.me/leverj  
Twitter: https://twitter.com/Leverj_io



http://markets.businessinsider.com/news/stocks/Cryptocurrency-Trading-Platform-Leverj-Announces-Highly-Anticipated-Token-Generation-Event-1003824203



*There has been a misprint in the news publications that have gone out announcing the Official Leverj ICO. Whitelist Dates are as shown on the registration website, beginning October 10th and closing November 1st. All official dates can be found at https://register.leverj.io. The misprint has been edited to the correct dates for this post.
17  Alternate cryptocurrencies / Service Discussion (Altcoins) / Comparing Leverj’s Model Vs. Other Decentralized Exchanges on: October 10, 2017, 05:04:47 AM
Leverj’s decentralized-custody exchange model prioritizes user experience and gives traders power over the the most important functions.

There are a number of decentralized exchanges on Ethereum that have come on the scene in 2017. With a variety of different models, they span the spectrum of on-chain matching, orders, and settlement versus off-chain matching and order management. In the Leverj vision, we believe in decentralizing the most important parts of the system while preserving a great UX for traders. That’s why we decentralize custody of funds and allow for smooth order processing and matching so that the feel of the platform is centralized-speed.

Below is a table that compares the Leverj model with competing models. We have avoided naming specific projects because their models are ever-evolving and some claim to have solutions in the works that are not addressed in their own whitepapers. You can see how other DEX projects are designed and see how their model compares in the table below:



https://blog.leverj.io/comparing-leverjs-model-versus-other-decentralized-exchanges-a0621ec84e83

(check out the original post from the Official Leverj Blog for comparison table)
18  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN] Leverj CEO Bharath Rao on /r/ethtrader for AMA - Thursday, Oct 12th on: October 09, 2017, 02:54:27 AM
Leverj Founder/CEO Bharath Rao will be on /r/ethtrader this coming Thursday, Oct 12th at 4pm Pacific for an AMA!

LEVERJ on /r/ethtrader

Learn more about Leverj on the Official Leverj Website

Find us on Twitter, FB, and LinkedIn

Stay up to date on the Official Leverj Blog

Subscribe to the our Official Subreddit /r/Leverj

Meet Bharath Rao
Quote
"When I saw what can happen in the crisis of 2008, I wanted to create something that is more robust and enables traders or participants to take part in the financial system without the systemic risks"

Find Bharath on LinkedIn

Reddit Username /u/coinpit

AMA begins Thursday, Oct 12th at 4pm Pacific
19  Economy / Economics / Cryptocurrency experts discuss India's 'downward spiral' on: October 07, 2017, 12:36:07 AM
Cryptocurrency experts discuss India's 'downward spiral'
By Ian Allison

India, once touted by experts as the world's next economic superpower spot, is facing decline and high unemployment.

CNN just reported India's economic growth fell from 7% to 5.6% in the last six months and, alarmingly, Head of the Center for Policy Alternatives in Delhi and former official at India's finance ministry Mohan Guruswamy was quoted as saying: "We're on a downward spiral."

Cryptocurrencies like Bitcoin and Dash, already a preferred form of payment in many countries facing hyperinflation and political turmoil, have emerged as a viable alternative for everyday Indians. Cryptocurrencies resist the fluctuations of mainstream currencies like the Indian rupee because they are not controlled by a central bank or government.

Commenting on the situation in India, CoinDesk Director of Research Nolan Bauerle said: "When India demonetised 86% of their currency, the government effectively said they had faith in only 14% of the supply of Rupees. Immediately, bitcoin traded at a 22% premium against the Rupee over any other currency.

To be clear, the USD price for bitcoin and the USD price for the Rupee in India was relatively the same, but the Rupee's value against bitcoin plunged. The digital currency markets were quick to signal that the Rupees' loss of portability and liquidity as a result of actions by institutional authorities brought the core of its value into question. Money functions in markets and markets work to achieve price discovery, noted Bauerle.

"When national currencies sag in foreign exchange markets as a result of monetary policy or political uncertainty, bitcoin often behaves as a safe haven because the price is totally based on market discovery.

"Unlike a replacement for fiat currency, bitcoin represents something different. It lies outside a system where policies from central authorities affect market prices. Some people find bitcoin useful because of this. Its popularity may continue to grow because the price comes from market discovery and is immune from unintended consequences of authorities and their bright ideas," he said.

Dash Core CEO Ryan Taylor added: "Measures of economic freedom are strongly correlated with economic success throughout the world. In India, a great deal of friction was introduced with the immediate banning of the vast majority of the country's circulating currency. In contrast, digital currencies are freely transferred person-to-person anywhere in the world instantly.

"This can have a dramatic positive impact on an economy suffering from onerous financial restrictions like India. I doubt digital currency will overtake the rupee anytime soon, but the dysfunction certainly creates the right environment to motivate consumers and businesses to seek an alternative like digital currency to address their needs.

Bharath Rao, CEO of decentralised exchange for cryptocurrency derivatives Leverj, said India faces unique challenges with respect to its monetary system. Counterfeiting, tax evasion, and corruption are rampant, and inflation threatens the affordability of food products and gasoline.

"The constant and careful intervention needed to balance these forces puts the economy in a precarious position causing undue stress on the people. The cash ban has had disappointing results and unintended consequences. The adoption of cryptocurrency is a potential solution to many of these problems.

"A nation such as India can either adopt a leading cryptocurrency or simply make its own. This would automatically eliminate counterfeiting. A steady inflation schedule will eliminate severe and unpredictable inflationary pressures. Tax can simply be automated on the blockchain or at the expense of higher inflation, simply be eliminated in favor of block rewards to the government.

"The blockchain can replace extensive paper pushing, and this alone should reduce the impact of corruption and may even uproot it entirely. Although cryptocurrency started as a way to limit government power, its embrace may ultimately limit government inefficiency."

http://www.ibtimes.co.uk/cryptocurrency-experts-discuss-indias-downward-spiral-1642197
20  Bitcoin / Press / [2017-10-06] Cryptocurrency experts discuss India's 'downward spiral' on: October 07, 2017, 12:29:43 AM
Cryptocurrency experts discuss India's 'downward spiral'
By Ian Allison

India, once touted by experts as the world's next economic superpower spot, is facing decline and high unemployment.

CNN just reported India's economic growth fell from 7% to 5.6% in the last six months and, alarmingly, Head of the Center for Policy Alternatives in Delhi and former official at India's finance ministry Mohan Guruswamy was quoted as saying: "We're on a downward spiral."

Cryptocurrencies like Bitcoin and Dash, already a preferred form of payment in many countries facing hyperinflation and political turmoil, have emerged as a viable alternative for everyday Indians. Cryptocurrencies resist the fluctuations of mainstream currencies like the Indian rupee because they are not controlled by a central bank or government.

Commenting on the situation in India, CoinDesk Director of Research Nolan Bauerle said: "When India demonetised 86% of their currency, the government effectively said they had faith in only 14% of the supply of Rupees. Immediately, bitcoin traded at a 22% premium against the Rupee over any other currency.

To be clear, the USD price for bitcoin and the USD price for the Rupee in India was relatively the same, but the Rupee's value against bitcoin plunged. The digital currency markets were quick to signal that the Rupees' loss of portability and liquidity as a result of actions by institutional authorities brought the core of its value into question. Money functions in markets and markets work to achieve price discovery, noted Bauerle.

"When national currencies sag in foreign exchange markets as a result of monetary policy or political uncertainty, bitcoin often behaves as a safe haven because the price is totally based on market discovery.

"Unlike a replacement for fiat currency, bitcoin represents something different. It lies outside a system where policies from central authorities affect market prices. Some people find bitcoin useful because of this. Its popularity may continue to grow because the price comes from market discovery and is immune from unintended consequences of authorities and their bright ideas," he said.

Dash Core CEO Ryan Taylor added: "Measures of economic freedom are strongly correlated with economic success throughout the world. In India, a great deal of friction was introduced with the immediate banning of the vast majority of the country's circulating currency. In contrast, digital currencies are freely transferred person-to-person anywhere in the world instantly.

"This can have a dramatic positive impact on an economy suffering from onerous financial restrictions like India. I doubt digital currency will overtake the rupee anytime soon, but the dysfunction certainly creates the right environment to motivate consumers and businesses to seek an alternative like digital currency to address their needs.

Bharath Rao, CEO of decentralised exchange for cryptocurrency derivatives Leverj, said India faces unique challenges with respect to its monetary system. Counterfeiting, tax evasion, and corruption are rampant, and inflation threatens the affordability of food products and gasoline.

"The constant and careful intervention needed to balance these forces puts the economy in a precarious position causing undue stress on the people. The cash ban has had disappointing results and unintended consequences. The adoption of cryptocurrency is a potential solution to many of these problems.

"A nation such as India can either adopt a leading cryptocurrency or simply make its own. This would automatically eliminate counterfeiting. A steady inflation schedule will eliminate severe and unpredictable inflationary pressures. Tax can simply be automated on the blockchain or at the expense of higher inflation, simply be eliminated in favor of block rewards to the government.

"The blockchain can replace extensive paper pushing, and this alone should reduce the impact of corruption and may even uproot it entirely. Although cryptocurrency started as a way to limit government power, its embrace may ultimately limit government inefficiency."


http://www.ibtimes.co.uk/cryptocurrency-experts-discuss-indias-downward-spiral-1642197
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