Is there any official statement about this.?
As far as I know Lakshmi project is about implementing blockchain in our regular life. Let's see what they have planned to do.
Topic: Indian Government considering official crypto currency codenamed "Lakshmi" - page 2. (Read 1523 times)
September 27, 2017, 02:00:42 PM
September 27, 2017, 12:16:13 PM
The Central government is considering a proposal to introduce its cryptocurrency similar to Bitcoin.
Sources close to the development said that the proposal was discussed by a committee of government officials, and the panel found the idea of setting up and running blockchain for financial services useful.
Whenever the decision is taken, the cryptocurrency will fall in the domain of the Reserve Bank of India (RBI) and some Acts such as the Currency Act might have to be amended. Hence, this will be a time-consuming process.
I dont understand how can they create a so called regulated cryptocurrency? If a cryptocurrency is regulated it loses a big trait of crypto that is the independence. Moreover India is still an developing economy. Many people still dont have phones or PC. Its a long way to go for this currency.Sources close to the development said that the proposal was discussed by a committee of government officials, and the panel found the idea of setting up and running blockchain for financial services useful.
Whenever the decision is taken, the cryptocurrency will fall in the domain of the Reserve Bank of India (RBI) and some Acts such as the Currency Act might have to be amended. Hence, this will be a time-consuming process.
They even don't distribute cellphones to poor people that's a way to make money.
September 23, 2017, 12:47:25 AM
The Central government is considering a proposal to introduce its cryptocurrency similar to Bitcoin.
Sources close to the development said that the proposal was discussed by a committee of government officials, and the panel found the idea of setting up and running blockchain for financial services useful.
Whenever the decision is taken, the cryptocurrency will fall in the domain of the Reserve Bank of India (RBI) and some Acts such as the Currency Act might have to be amended. Hence, this will be a time-consuming process.
I dont understand how can they create a so called regulated cryptocurrency? If a cryptocurrency is regulated it loses a big trait of crypto that is the independence. Moreover India is still an developing economy. Many people still dont have phones or PC. Its a long way to go for this currency. Sources close to the development said that the proposal was discussed by a committee of government officials, and the panel found the idea of setting up and running blockchain for financial services useful.
Whenever the decision is taken, the cryptocurrency will fall in the domain of the Reserve Bank of India (RBI) and some Acts such as the Currency Act might have to be amended. Hence, this will be a time-consuming process.
September 18, 2017, 09:34:42 AM
I think "lakshmi" project was something else not related to blockchain technology at all and its ideas was long ago proposed in financial meetings in government departments.and RBI will not allow any such project ,there are still not approving usage of blockchain technology to secure their data.
You got it confused with something else,this is a new project still in r&d,it will run on blockchain for banks and other sectors September 18, 2017, 04:47:26 AM
Nice to hear, as India is taking some steps against Cryptocurrency for digital Indians. The Lakshmi word is really good might make profits to most Indians. Hoping to hear some more good news in future for investments.
September 17, 2017, 03:39:17 AM
Should this be considered as an positive side to look that India is atleast realising the importance of this technology and does not want to stay behind so might introduced thier own coin.
Or should this be seen in this way that introducing thier own coin means they may put a ban on all other coins in India and those interested may use this coin only .
It should be taken in neutral to negative range.Or should this be seen in this way that introducing thier own coin means they may put a ban on all other coins in India and those interested may use this coin only .
The government agrees that blockchain potential is huge but at the same time are not convinced by bitcoin
September 17, 2017, 03:37:05 AM
I think "lakshmi" project was something else not related to blockchain technology at all and its ideas was long ago proposed in financial meetings in government departments.and RBI will not allow any such project ,there are still not approving usage of blockchain technology to secure their data.
You got it confused with something else,this is a new project still in r&d,it will run on blockchain for banks and other sectors September 16, 2017, 10:11:38 AM
I think "lakshmi" project was something else not related to blockchain technology at all and its ideas was long ago proposed in financial meetings in government departments.and RBI will not allow any such project ,there are still not approving usage of blockchain technology to secure their data.
September 16, 2017, 08:30:34 AM
Should this be considered as an positive side to look that India is atleast realising the importance of this technology and does not want to stay behind so might introduced thier own coin.
Or should this be seen in this way that introducing thier own coin means they may put a ban on all other coins in India and those interested may use this coin only .
Or should this be seen in this way that introducing thier own coin means they may put a ban on all other coins in India and those interested may use this coin only .
September 16, 2017, 04:03:31 AM
The Central government is considering a proposal to introduce its cryptocurrency similar to Bitcoin.
Sources close to the development said that the proposal was discussed by a committee of government officials, and the panel found the idea of setting up and running blockchain for financial services useful.
Whenever the decision is taken, the cryptocurrency will fall in the domain of the Reserve Bank of India (RBI) and some Acts such as the Currency Act might have to be amended. Hence, this will be a time-consuming process.
Sources close to the development said that the proposal was discussed by a committee of government officials, and the panel found the idea of setting up and running blockchain for financial services useful.
Whenever the decision is taken, the cryptocurrency will fall in the domain of the Reserve Bank of India (RBI) and some Acts such as the Currency Act might have to be amended. Hence, this will be a time-consuming process.
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