Topic: india's new cryptocurrency (Read 556 times)
I think they only evaluate and reviewing cryptocurrencies that will be supported by their own government. There is no correct evidence that they will make cryptocurrencies themselves.
I don't get the point on why some countries are planning on making their own cryptocurrency. One of the main selling points of most cryptocurrencies is the decentralized aspect of it. A country's government making a cryptocurrency defeats that purpose. This is probably just a way for the Indian government to make more money.
But anyway, what do I know. Haven't done research about this yet.
But anyway, what do I know. Haven't done research about this yet.
You’re right. What’s the point of having a digital currency if we don’t take advantage of its virtual and decentralized nature? However, do you think the world is ready to have a global currency?
Perhaps, this is how they want to show their power to other countries, and the government wants to follow the cryptocurrency journey, and finally, the India government create their cryptocurrency. But I think some of the countries are ready to have a global currency although the other country still researches about cryptocurrency. And if the India government succeed to do this, I think the other countries will follow, and the coin list in the coinmarketcap will grow bigger.
India is going to launch its own cryptocurrency.
A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.
“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.
India people nowdays so hitech. many of them is IT. they human resource are promising in IT development. Now they want to be make a crypto economics with their own version, maybe they will be competed market BTC with other country motly like china. A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.
“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.
I don't get the point on why some countries are planning on making their own cryptocurrency. One of the main selling points of most cryptocurrencies is the decentralized aspect of it. A country's government making a cryptocurrency defeats that purpose. This is probably just a way for the Indian government to make more money.
But anyway, what do I know. Haven't done research about this yet.
But anyway, what do I know. Haven't done research about this yet.
You’re right. What’s the point of having a digital currency if we don’t take advantage of its virtual and decentralized nature? However, do you think the world is ready to have a global currency?
The intention of the Indian government to make its own crypto currency is a positive step. This means that crypto currency in India will not be restricted. That would be a good step, and also a good news for developing crypto currency. Because if the government adopts a crypto currency, then I think this will encourage the concept of crypto currency as a decentralized currency and it will be of great benefit in future.
creation of a centralized coin by the government doesn't mean freedom of decentralized cryptocurrencies at all.
in fact you don't know what their government is going to do. they may end up feeling the need to force their centralized coin on their people and to do that they may ban anything else so that people don't have any other option but their coin.
In the intention to release my centralized cryptocurrency, I do not see anything wrong. This will only increase the interest of the Indian population in the decentralized cryptocurrency, if they see that the state itself creates its own cryptocurrency.
what different other laxmicoin?
The intention of the Indian government to make its own crypto currency is a positive step. This means that crypto currency in India will not be restricted. That would be a good step, and also a good news for developing crypto currency. Because if the government adopts a crypto currency, then I think this will encourage the concept of crypto currency as a decentralized currency and it will be of great benefit in future.
creation of a centralized coin by the government doesn't mean freedom of decentralized cryptocurrencies at all.
in fact you don't know what their government is going to do. they may end up feeling the need to force their centralized coin on their people and to do that they may ban anything else so that people don't have any other option but their coin.
India is going to launch its own cryptocurrency.
A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.
“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.
this could have been the reason why india banning bitcoin because they cant control it so they will create their own that they have control of, anyway can you provide link on this statement? that would be interesting to read.. A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.
“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.
The intention of the Indian government to make its own crypto currency is a positive step. This means that crypto currency in India will not be restricted. That would be a good step, and also a good news for developing crypto currency. Because if the government adopts a crypto currency, then I think this will encourage the concept of crypto currency as a decentralized currency and it will be of great benefit in future.
Hello,
I don’t heard before that India is crypto fan country. It is good for general knowing and acceptance about crypto but I really don’t understand what is the purpose for a country and furthermore how it could behave with country’s fiat. I understand that it could be less subject to devaluation but if fiat is in bad mood with low trust how could the crypto be different ?
I don’t heard before that India is crypto fan country. It is good for general knowing and acceptance about crypto but I really don’t understand what is the purpose for a country and furthermore how it could behave with country’s fiat. I understand that it could be less subject to devaluation but if fiat is in bad mood with low trust how could the crypto be different ?
India is going to launch its own cryptocurrency.
A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.
“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.
A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.
“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.
Lol sounds interesting. However, it might affect the principal of decentralization of crypto. Let's see how it goes.
India is going to launch its own cryptocurrency.
A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.
“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.
A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.
“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs, to suggest measures to regulate cryptocurrencies. The panel was supposed to submit its report by July, which was later pushed to the end of the year.
I doubt any such things are happeneing. It is the committee set up to explore blockchain technology and not for creating India's own cryptocurrency. I don't know which news portal broke that news, but it fake to the core without any solid back ground!!
The effort has been going on to explore and use blockchain technology in land records and energy sector. But no discussion regarding own crypto is ongoing for sure!
I see this as a very good news, if the government can prove to the population that crypto currency works, then more people will get interested into crypto currency and many of them will try to get hands on the only real crypto currency anyone needs to have some of, Bitcoins.
They banned crypto trading just to develop and avoid competition with its national cryptocurrency
It makes little to no difference in foregoing of the general crypto market. If every country tries to create their own crypto then it will only create havoc.
Yes, I can only hope that this provides an opportunity for other countries who want to consider those who want to reject cryptocurrency. if you don't accept bitcoin, at least they support the existence of cryptocurrency by making their country's currency in the crypto version
cryptocurenccy as a decentralized currency. If the government adopts cryptocurenccy, then I think it will eliminate the cryptorurenccy concept. Because the government will implement regulatory regulations such as fiat money.
Remember that not all cryptocoins are decentralized, some of them are actually regulated or controlled by someone, so I think India would make its own cryptocurrency regulated, however there are lots of pros and cons with a regulated crypto, lets just hope that India will do well.
on july 28, 2018 The Indian government has reported completion of the draft regulatory framework for cryptocurrency. It's good news also that A New Indian Express wrote on Saturday that their government is "likely to issue guidelines in a September cryptocurrency." If this is their regulation we can not do that anymore. it's a very good news for the development of the crypto currency itself, hopefully that will help it in a way that's really good to invest
cryptocurenccy as a decentralized currency. If the government adopts cryptocurenccy, then I think it will eliminate the cryptorurenccy concept. Because the government will implement regulatory regulations such as fiat money.
they are just digitizing their national currency and naming it Crypto - and I bet it will be heavily centralized, to track every financial movement of the citizens.
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