India may have its own cryptocurrency

The country’s government is in favor of creating a national or local virtual currency. To achieve this goal, it is trying to master technologies that were previously used to create the most popular projects..

Zee Business insiders report that at present all developments are aimed at forming a sustainable technology for the implementation of the plan, as well as solving the problems of putting internal digital money into operation. The main challenge for the Indian government is to find ways to use available technologies in a positive way..

According to insiders, the project of its own virtual currency will be ready by September 2018, and the final recommendations related to the cryptocurrency will be released a little later, during the same month. The government is currently negotiating with stakeholders.

It is noteworthy that cryptocurrencies such as Bitcoin and others have been practically banned in India, and the authorities do not want to encourage people to invest in them at all. Probably, its own coin will be the answer to meeting the needs of the country’s population for a new financial instrument.

Earlier we wrote about how and why the Indian government decided to reconsider its attitude towards cryptocurrencies..

text: Evgeniya Likhodey, photo: Adam Quirk / Flickr

India may have its own cryptocurrency

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