Barrier:
1. Ignorance
2. Lack of courage to take part in new experiment.
3. Indians do what other do. So, Indians will start when Indian start. (Paradox)
4. Neither we like virtual currencies nor we've experience with virtual currencies.
5. Transaction are pain in ass in India.
6. Majority of people don't have credit/debit card.
7. They don't understand Bitcoin not have "spirit of inquiry."
8. RBI would never take Bitcoin seriously.
A very interesting list.
I would add
- India does not have a good open source software culture. (most indians look down on opensource software, that includes a vast majority of people in the IT industry)
- Trust problem. What i mean by that is that there is an inherent issue when trying to collaborate in projects for the love of it . only driven by the motive to earn money.
- The British Raj mentality. i.e - will wait until authority will tell them it is ok to do it. hence give rise to License Raj
- Corrupt government departments. - which create a fear in people starting businesses that corrupt governmental official would raid them on false pretex and create problems.
- Extremely hard to start a Incorporated Company (ltd). usually taking any thing from a month to 6 months to get all the paperwork finished.
