[2016-12-19] Firstpost: Bitcoins accepted by over 500 merchants in India

[polynesia]

Bitcoins accepted by over 500 merchants in India, says GBminers co-founder Amit Bhardwaj

http://tech.firstpost.com/news-analysis/bitcoins-accepted-by-over-500-merchants-in-india-says-gbminers-co-founder-amit-bhardwaj-353532.html

Demonetisation of the old Rs 500 and Rs 1000 notes has had mixed reactions from the nation. While the push towards digital transactions has increased, one still sees queues outside ATMs and banks. The reason being that a lot of services still rely on cash and India is still, for all practical purposes, a cash-first country. Wide-scale digitisation is one of the backbones on which digital economy can thrive. But thanks to our infrastructural limitations, there will be challenges in achieving that ‘less-cash’ dream that we keep hearing about.

Now while the fight between digital currency and physical currency carries on, there is another kind of currency that is slowly but surely gaining prominence in the Indian construct. Cryptocurrency. Or its more popular variant – bitcoins.

[bitcoinisbest]

This is really at the very initial stage if considered just 500 merchants accepting across India till now. Yes but a good sign and more to come with the demonetization in place and India to move some towards some cashless economy so BTC will certainly be accepted by more merchants and acts as another payment mode.