The era of dominant cash is drawing to an end and India is poised to be an integral part of the emerging global digital payments architecture. EPISODE #50
The proposed launch of the CBDC or Digital Rupee is a plausible move by the Government. In the current fast paced world of international business and finance , India has to be among the frontrunners and not play catch up forever. The main concerns of the countries are, that due to their ease and speed of transactions, the cryptocurrencies do not replace or dominate the sovereign currency. For the same reason the cryptocurrency can be conveniently used for illegal and critical payments like drugs, other smuggling activities, arms and terrorism. The Digital Rupee therefore has made an insightful and timely entry.
A very timely article as all news channels are talking about the dangers and benefits of cryptocurrency these days !! There are still many grey areas and the common man does not understand it.Though it has a lot of potential for the future , when payments will be all digital, but at present we need to frame proper guidelines and framework for its usage.
The proposed launch of the CBDC or Digital Rupee is a plausible move by the Government. In the current fast paced world of international business and finance , India has to be among the frontrunners and not play catch up forever. The main concerns of the countries are, that due to their ease and speed of transactions, the cryptocurrencies do not replace or dominate the sovereign currency. For the same reason the cryptocurrency can be conveniently used for illegal and critical payments like drugs, other smuggling activities, arms and terrorism. The Digital Rupee therefore has made an insightful and timely entry.
Dear Anil,
A very timely article as all news channels are talking about the dangers and benefits of cryptocurrency these days !! There are still many grey areas and the common man does not understand it.Though it has a lot of potential for the future , when payments will be all digital, but at present we need to frame proper guidelines and framework for its usage.