Another Blockchain Usecase by IRCTC | Bitcointalksearch.org

pawanjain

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Quote from: pakhitheboss on January 14, 2025, 05:41:52 AM

I don't understand the government's hypocrisy. On one hand, the Home Minister considers cryptocurrencies a significant threat; on the other, they are using one of their government public sector undertakings (PSU) to celebrate Holi through NFTs on the Polygon network. Is this just another way to distract from the real issues faced by the Indian community? I think it is. However, what I appreciate about this event is that many railway commuters using that train will now learn about NFTs and how they work. The youth of India are starting to explore spiritual locations more than they did before, which will help them realize the potential of this industry following this event.

From what I have read about crypto news from India since beginning I can say that India never discouraged blockchain technology as a whole.
In fact India embraced the use of the blockchain technology since beginning but were not in the favor of supporting cryptocurrencies.
May be this is why we are seeing the use of blockchain but not encouraging crypto transactions yet in India.
Things are going in a positive direction though and while we are ~~slow~~ very slow in the race, I believe we will reach that point sooner or later when India will start supporting crypto trading (not as a legal tender but lowering trading fees).

Bitcoin Smith

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Quote from: TheUltraElite on January 14, 2025, 04:30:48 AM

One thing is for sure, enthusiasm regarding cryptocurrencies is high in India, but I hope the enthusiasm remains in the proper direction. NFTs and other such previously done stuff have removed trust in crypto - the only asset I find worth my time is bitcoin.

That is what I am concerned about, they are being introduced to NFT which could redirect the people into shitcoins in the name of crypto and already we have a trend for memecoins when people claimed they are crypto investors when they bought random shitcoins with no idea of what is crypto and recently there was tapcoin trend by the YouTubers and later it was exposed by some in the same community too.

If they want to enter crypto then their first choice should be bitcoin.

Quote from: pakhitheboss on January 14, 2025, 05:41:52 AM

However, what I appreciate about this event is that many railway commuters using that train will now learn about NFTs and how they work. The youth of India are starting to explore spiritual locations more than they did before, which will help them realize the potential of this industry following this event.

I wish the same, but like I said they need to be guided properly when they want to enter crypto, if they buy altcoin then 99.9% it is going to zero, so I hope they find bitcoin when they search something related to crypto. Again this forum will be a great asset for them to learn, I can see tons of activity going on Reddit with lot of active members but it's not a place where we can learn something, it can provide a patch for current issue but to learn something real they need to enter here that will benefit them as well as the local board too.

pakhitheboss

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I don't understand the government's hypocrisy. On one hand, the Home Minister considers cryptocurrencies a significant threat; on the other, they are using one of their government public sector undertakings (PSU) to celebrate Holi through NFTs on the Polygon network. Is this just another way to distract from the real issues faced by the Indian community? I think it is. However, what I appreciate about this event is that many railway commuters using that train will now learn about NFTs and how they work. The youth of India are starting to explore spiritual locations more than they did before, which will help them realize the potential of this industry following this event.

TheUltraElite

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So anyway, I applied as a merit source :)

One thing is for sure, enthusiasm regarding cryptocurrencies is high in India, but I hope the enthusiasm remains in the proper direction. NFTs and other such previously done stuff have removed trust in crypto - the only asset I find worth my time is bitcoin.

Nonetheless it is refreshing to see a one of the biggest government services IRCTC getting involved in crypto.

Bitcoin Smith

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Indian Railways announced this on their official X page yesterday.

On Jan. 13, blockchain firm Chaincode Consulting announced a partnership with the Indian Railway Catering and Tourism Corporation (IRCTC) to digitize the spiritual journey of millions of travelers heading to the major pilgrimage in India.

The NFTs will be minted over the Polygon blockchain and made available via the real-world assets (RWAs) and traceability platform NFTtrace.

The personalized NFTs issued by Indian Railways can be verified on the blockchain by authorities and the public. The company previously maintained the records of train ticket purchases on the Hyperledger blockchain and employed smart contracts to govern the traceability process.

Indian Railways to issue NFT tickets on Polygon for rare festival

On a side Indian government entities were actively exploring the use case of Blockchain and trying to implement such proposed an Idea to maintain medical records on Public ledger and now this but they are also trying to suppress the use of crypto in our territory. So what's your view on this!

Topic: Another Blockchain Usecase by IRCTC (Read 38 times)