[2017-09-16] Another experiment with currency? RBI is looking at its own Bitcoin

[Eric Cartman]

It seems demonetisation is not India's last experiment with currency. The Reserve Bank of India (RBI) is now looking at the brave new world of cryptocurrency.

The success of Bitcoin, a popular cryptocurrency, may have encouraged the central bank to consider its own cryptocurrency since it is not comfortable with this non-fiat cryptocurrency, as stated by RBI executive director Sudarshan Sen a few days ago.

Despite RBI's call for caution to people against the use of virt ..

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[Snaic]

However, under what conditions will exist its own crypto currency of India? If it is fully or largely regulated by the laws of this country, especially in the order of carrying out transactions and registering the persons conducting them, it will not be a crypto currency in the classical sense of the word. However, if they follow the path of Japan, where they approached this process quite wisely, India will soon join the list of countries with developed crypto-currency.