Legal Limits with Remittances in India Affect Synergies with Bitcoin and BlockchainBitcoinCT r: 8 and Blockchain technology are very young and novel for millions of people all over the world. Moreover, several countries are still arguing about the status of this FinTech innovation, and how they could use it in the local financial industry. The same situation applies to India where Bitcoin and Blockchain face a miryad of problems in the country.
Vishal Gupta is the Founder of Bitcoin Alliance India, CEO at SearchTrade, and Director at Moving Trumpet. CoinTelegraphCT r: 24 turned to Vishal Gupta to find out what are the main problems with Bitcoin and Blockchain development in India.
CT: How difficult is it to promote Bitcoin and Blockchain in India? Which problems do these technologies face in the country?
Vishal Gupta: Key challenges in promoting Blockchain is around educating people about how it works to start with. Bitcoin on the other hand is very easy to promote but existing capital controls and lack of investment in mining has hampered the growth of the bitcoin market. Of course, there is general fear amongst investors and users around the legality of the use of bitcoin.
http://cointelegraph.com/news/115776/legal-limits-with-remittances-in-india-affect-synergies-with-bitcoin-and-blockchain
