india's new cryptocurrency

[Alia Rojas]

This is a good move. It's a good news for the development of the cryptocurrency itself. Hopefully with this we can sort out what's really good to invest.

[KryptoKai]

Eventually all coins will launch their own cryptocurrency. If venezuela succeeds in turning around their economy with the petro you can guarantee that everyone else will follow, especially those with struggling economies

[Nikolas Brown]

Its good they are looking into blockchain technology. Its a surprising news just after the ban of the cryptocurrency by their Government and Reserve Bank. Hope to hear more about it.

[vonnyaries]

wow if india want to make their own cryptocurrencies, india will be lead in the cryptocurreny because after they accept bitcoin they will makes their own cryptrocurrency, so i think we can see a good news in here, its not for india but all country in the world woll affected because of this news

[bitfocus]

they are just digitizing their national currency and naming it Crypto - and I bet it will be heavily centralized, to track every financial movement of the citizens.

[Darz299]

cryptocurenccy as a decentralized currency. If the government adopts cryptocurenccy, then I think it will eliminate the cryptorurenccy concept. Because the government will implement regulatory regulations such as fiat money.

[jhonvir666]

on july 28, 2018 The Indian government has reported completion of the draft regulatory framework for cryptocurrency. It's good news also that A New Indian Express wrote on Saturday that their government is "likely to issue guidelines in a September cryptocurrency." If this is their regulation we can not do that anymore. it's a very good news for the development of the crypto currency itself, hopefully that will help it in a way that's really good to invest

[dupee419]

cryptocurenccy as a decentralized currency. If the government adopts cryptocurenccy, then I think it will eliminate the cryptorurenccy concept. Because the government will implement regulatory regulations such as fiat money.

Remember that not all cryptocoins are decentralized, some of them are actually regulated or controlled by someone, so I think India would make its own cryptocurrency regulated, however there are lots of pros and cons with a regulated crypto, lets just hope that India will do well.

[Huskarls]

Yes, I can only hope that this provides an opportunity for other countries who want to consider those who want to reject cryptocurrency. if you don't accept bitcoin, at least they support the existence of cryptocurrency by making their country's currency in the crypto version

[Thinkable999]

It makes little to no difference in foregoing of the general crypto market. If every country tries to create their own crypto then it will only create havoc.

[rickn]

They banned crypto trading just to develop and avoid competition with its national cryptocurrency

[Crypto one]

I see this as a very good news, if the government can prove to the population that crypto currency works, then more people will get interested into crypto currency and many of them will try to get hands on the only real crypto currency anyone needs to have some of, Bitcoins.

[avikz]

India is going to launch its own cryptocurrency.

A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.

“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.

The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.

I doubt any such things are happeneing. It is the committee set up to explore blockchain technology and not for creating India's own cryptocurrency. I don't know which news portal broke that news, but it fake to the core without any solid back ground!!

The effort has been going on to explore and use blockchain technology in land records and energy sector. But no discussion regarding own crypto is ongoing for sure!

[kalui.sam]

India is going to launch its own cryptocurrency.

A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.

“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.

The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.

Lol sounds interesting. However, it might affect the principal of decentralization of crypto. Let's see how it goes.

[dablatair]

Hello,

I don’t heard before that India is crypto fan country. It is good for general knowing and acceptance about crypto but I really don’t understand what is the purpose for a country and furthermore how it could behave with country’s fiat. I understand that it could be less subject to devaluation but if fiat is in bad mood with low trust how could the crypto be different ?

[anshkumandhan]

The intention of the Indian government to make its own crypto currency is a positive step. This means that crypto currency in India will not be restricted. That would be a good step, and also a good news for developing crypto currency. Because if the government adopts a crypto currency, then I think this will encourage the concept of crypto currency as a decentralized currency and it will be of great benefit in future.

[xtrump101]

India is going to launch its own cryptocurrency.

A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.

“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.

The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.

this could have been the reason why india banning bitcoin because they cant control it so they will create their own that they have control of, anyway can you provide link on this statement? that would be interesting to read..

[Pursuer]

The intention of the Indian government to make its own crypto currency is a positive step. This means that crypto currency in India will not be restricted. That would be a good step, and also a good news for developing crypto currency. Because if the government adopts a crypto currency, then I think this will encourage the concept of crypto currency as a decentralized currency and it will be of great benefit in future.

creation of a centralized coin by the government doesn't mean freedom of decentralized cryptocurrencies at all.
in fact you don't know what their government is going to do. they may end up feeling the need to force their centralized coin on their people and to do that they may ban anything else so that people don't have any other option but their coin.

[Wewstyroia]

what different other laxmicoin?

[Leyss]

The intention of the Indian government to make its own crypto currency is a positive step. This means that crypto currency in India will not be restricted. That would be a good step, and also a good news for developing crypto currency. Because if the government adopts a crypto currency, then I think this will encourage the concept of crypto currency as a decentralized currency and it will be of great benefit in future.

creation of a centralized coin by the government doesn't mean freedom of decentralized cryptocurrencies at all.
in fact you don't know what their government is going to do. they may end up feeling the need to force their centralized coin on their people and to do that they may ban anything else so that people don't have any other option but their coin.

You should not be so categorically negative about the government of India in relation to cryptocurrency. The commission created by them came to the conclusion that the cryptocurrency can be used as a means of payment. They sent their representatives to gain experience in regulating cryptocurrency in countries with a friendly attitude to cryptocurrency. I see that in India only the Reserve Bank is very negative about cryptocurrency.
In the intention to release my centralized cryptocurrency, I do not see anything wrong. This will only increase the interest of the Indian population in the decentralized cryptocurrency, if they see that the state itself creates its own cryptocurrency.