http://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=2902002 RBI report on electronic money.
Decentralized currencies also get a mention.
Third, it is argued that e-money could also be issued as a separate form of currency independent of central bank money by entities other than the central bank. In that case, e-money would compete against the central bank money as a medium of exchange. Such a scenario, however, in which public gets e-money from an entity in exchange for something other than the central bank money seems remote now. It may be worth appreciating here that one of the strongest proponents advocating abolition of central bank's monopoly in the creation of money was Von Hayek (1976). He proposed that banks should also issue their own currency. The resultant competition would ensure only well managed currencies to survive, help appropriate price discovery process and achieve price stability.