india's new cryptocurrency

[James_Cline]

I don't get the point on why some countries are planning on making their own cryptocurrency. One of the main selling points of most cryptocurrencies is the decentralized aspect of it. A country's government making a cryptocurrency defeats that purpose. This is probably just a way for the Indian government to make more money.

But anyway, what do I know. Haven't done research about this yet.

You’re right. What’s the point of having a digital currency if we don’t take advantage of its virtual and decentralized nature? However, do you think the world is ready to have a global currency?

[kifumi]

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.

India people nowdays so hitech. many of them is IT. they human resource are promising in IT development. Now they want to be make a crypto economics with their own version, maybe they will be competed market BTC with other country motly like china.

[maydna]

I don't get the point on why some countries are planning on making their own cryptocurrency. One of the main selling points of most cryptocurrencies is the decentralized aspect of it. A country's government making a cryptocurrency defeats that purpose. This is probably just a way for the Indian government to make more money.

But anyway, what do I know. Haven't done research about this yet.

You’re right. What’s the point of having a digital currency if we don’t take advantage of its virtual and decentralized nature? However, do you think the world is ready to have a global currency?

Perhaps, this is how they want to show their power to other countries, and the government wants to follow the cryptocurrency journey, and finally, the India government create their cryptocurrency. But I think some of the countries are ready to have a global currency although the other country still researches about cryptocurrency. And if the India government succeed to do this, I think the other countries will follow, and the coin list in the coinmarketcap will grow bigger.

[zeingrind777]

I think they only evaluate and reviewing cryptocurrencies that will be supported by their own government. There is no correct evidence that they will make cryptocurrencies themselves.