The title is completely misleading. It makes it sounds like it was the govt of India who released the app when in fact it was a company in India.
I was surprised because over the past few days all i've been reading from India are bad news towards Bitcoin, and cryptocurrencies as well. Like the govt targeting Bitcoin exchanges to investigate tax evasion, the Tax Department of India going after wealthy Bitcoin users (same goes for traders), and politicians calling Bitcoin a 'ponzi scheme' that should be regulated. Overall, things are not looking good for cryptocurrencies in India
Topic: India has launched their first Bitcoin trading app. (Read 143 times)
When will you people finally make the difference between a country and a company?
It is not "India" that is launching an app
It is not Japan that is launching a hydrogen car
It is not the US that is building a 787
For god sake there are almost 30 years since the fall of the eastern block and the major communist countries.
Start making the difference because it might not look as a big deal but in reality it's a huge one.
You're title would have made sense only if the government in India would have launched it and that would be indeed "huuuuge".
It would have made India great again....
PS.
This is the text so you can read it without making that crappy blog score hits:
It is not "India" that is launching an app
It is not Japan that is launching a hydrogen car
It is not the US that is building a 787
For god sake there are almost 30 years since the fall of the eastern block and the major communist countries.
Start making the difference because it might not look as a big deal but in reality it's a huge one.
You're title would have made sense only if the government in India would have launched it and that would be indeed "huuuuge".
It would have made India great again....
PS.
This is the text so you can read it without making that crappy blog score hits:
Quote
So, good news was needed, and this came from New Delhi, who announced that cryptocurrency dealer Pluto Exchange would be launching India’s first mobile application for transacting in the virtual currency.
The founder and Chief Executive of Pluto Exchange, Bharat Verma said the company is ready to go and will present the country’s first ever app based wallet that will allow people to make Bitcoin transactions using just their mobile number. He said;
“The Pluto Exchange mobile app offers a solution to the coordination problem between payment processors, financial gateways and banks…All other apps already in the market do transactions using Bitcoin addresses, which are long and prone to error while copying. Pluto Exchange will change this scenario by enabling transactions using mobile numbers only, which are just 10 digits.”
Users would simply have to use a four digit personal identification number in order to buy, sell, store and spend Bitcoins using just your mobile number. Verma was keen to elaborate further, stating that the app would permit a range of transactions, including payments, remittances, business to business commerce, supply chain finance, asset management and trading.
He added that the Reserve Bank of India was concerned about the volatility that was involved when using cash for dealing in virtual currencies, as the values can be incredibly erratic. Speaking of this issue, he added
The RBI considers Bitcoins as decentralised trading that is completely unregulated…so their status is not clear
The founder and Chief Executive of Pluto Exchange, Bharat Verma said the company is ready to go and will present the country’s first ever app based wallet that will allow people to make Bitcoin transactions using just their mobile number. He said;
“The Pluto Exchange mobile app offers a solution to the coordination problem between payment processors, financial gateways and banks…All other apps already in the market do transactions using Bitcoin addresses, which are long and prone to error while copying. Pluto Exchange will change this scenario by enabling transactions using mobile numbers only, which are just 10 digits.”
Users would simply have to use a four digit personal identification number in order to buy, sell, store and spend Bitcoins using just your mobile number. Verma was keen to elaborate further, stating that the app would permit a range of transactions, including payments, remittances, business to business commerce, supply chain finance, asset management and trading.
He added that the Reserve Bank of India was concerned about the volatility that was involved when using cash for dealing in virtual currencies, as the values can be incredibly erratic. Speaking of this issue, he added
The RBI considers Bitcoins as decentralised trading that is completely unregulated…so their status is not clear
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