Vision 2018 - Reserve Bank of India | Bitcointalksearch.org

skang

sr. member

Activity: 452

Merit: 252

from democracy to self-rule.

Quote from: Benson Samuel on June 25, 2016, 04:54:02 AM

Quote from: BTCIndia on June 24, 2016, 04:32:25 AM

Blockchain on RBI's agenda. Grin

https://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/VISION20181A8972F5582F4B2B8B46C5B669CE396A.PDF

This is very cool news indeed.
Hopefully, we will get to see an interesting chapter unfold once some form of regulatory comes into place.

It'd be great for exchanges but only delay cryptocurrency's true usage & would reduce it to cashless money which RBI is already pushing with Rupay, Aadhar-enabled-payments etc.
Nevertheless, it will only delay it..eventually the power would unleash through foreign startups (like India missed the boat with internet infrastructure too e.g. facebook & whatsapp won) and then India will HAVE TO do away with regulation.

Anyways, a blockchain/cryptocurrency cannot be bounded to a geography by definition, so at best RBI can improve current systems. Cryptocurrency is a fundamental technology & only "new" revamped systems can take its advantage; current systems cannot be juxtaposed on a blockchain.

camohitmishra

full member

Activity: 248

Merit: 100

If regulatory comes then the basic theme of crypto currency will get defeated. Its supposed to be peer to peer based with no control of any government.

Benson Samuel

legendary