[2017-01-12] Moneycontrol: RBI bullish on blockchain

[polynesia]

RBI bullish on blockchain; embraces the idea of digital rupee

http://www.moneycontrol.com/news/economy/rbi-bullishblockchain-embracesideadigital-rupee_8251321.html

The bitcoin bull run may have ceased from the beginning of this year but in India, the first two weeks of 2017 have certainly brought a lot of cheer for blockchain, the software that maintains a decentralized public ledger which records transactions and ownership of the cryptocurrency.

Earlier this month, Yes Bank announced that it has implemented a multi-nodal blockchain transaction to fully digitize vendor financing for its client Bajaj Electricals and on Monday, Axis Bank became the third lender in India to announce usage of blockchain solutions for its operations, after its peers ICICI Bank and Yes Bank.

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[baristor]

RBI bullish on blockchain; embraces the idea of digital rupee

http://www.moneycontrol.com/news/economy/rbi-bullishblockchain-embracesideadigital-rupee_8251321.html

The bitcoin bull run may have ceased from the beginning of this year but in India, the first two weeks of 2017 have certainly brought a lot of cheer for blockchain, the software that maintains a decentralized public ledger which records transactions and ownership of the cryptocurrency.

Earlier this month, Yes Bank announced that it has implemented a multi-nodal blockchain transaction to fully digitize vendor financing for its client Bajaj Electricals and on Monday, Axis Bank became the third lender in India to announce usage of blockchain solutions for its operations, after its peers ICICI Bank and Yes Bank.

What does this mean... ?

[bitcoinisbest]

Is it possible that government can bring its own coin and uses the support of blockchain and says that from going on this will be the legal tender coin in India if anyone wants to transact or do remittance anywhere in India and want to make payment to anyone in a digital way  Thus banning rest of the coins in India.