The donation boxes are infrequently opened and contain lots of bills. At least in Bitcoin, if a payment processor is used, the bitcoins get back in circulation. And there is no problem of small bills / large bills.
Topic: [2016-11-19]India’s Demonetization: Cash is Not Holy Cow, in Bitcoin.... (Read 434 times)
November 20, 2016, 08:07:44 AM
The religious institutions are the equivalent of hodlers in Bitcoin.
The donation boxes are infrequently opened and contain lots of bills. At least in Bitcoin, if a payment processor is used, the bitcoins get back in circulation. And there is no problem of small bills / large bills.
The donation boxes are infrequently opened and contain lots of bills. At least in Bitcoin, if a payment processor is used, the bitcoins get back in circulation. And there is no problem of small bills / large bills.
November 20, 2016, 01:47:00 AM
ndia’s Demonetization: Cash is Not Holy Cow, in Bitcoin Blockchain We Trust
The characterization of India as a spiritual place by most tourists is not wrong, considering that it is the birthplace of multiple religions including Hinduism, Buddhism and Sikhism. Religious institutions play an important role in daily life and receive a lot of money - including small bills - as donations. The Ministry of Finance has requested religious institutions to deposit their cash donations into banks, which can then redistribute these small bills into the economy.
In the southern state of Kerala, the Martin De Porres church has opened its collection box to help the needy. The church normally opens its donation box once every six months.
https://cointelegraph.com/news/indias-demonetization-cash-is-not-holy-cow-in-bitcoin-blockchain-we-trust
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