As the Indian Rupee demonetization recently happens, the Bitcoin price increase follows. After this, there were proposals that the government might be planning to ban the gold importation, as this valuable metal achieved 2-year highs in November.
Added to it is the growing knowledge about in the 2 most populated country in the world and the government of India decide to work on the Blockchain framework and Bitcoin before 2018.
In Payment and Settlement Systems in India: Vision-2018, it was noted in the Reserve Bank of India that this will be the monitoring framework for the new innovations or technologies to make sure that they can regulate and keep up with the pace of technology that impacts the payment space, the technology developments in international level like distributed ledgers, block chain and others.
It says that it will help the nation’s payments ecosystem improve. This has been dynamically evolving with the innovations and advancements taking place, in the Fintech area in particular.
Zebpay spokesperson agrees that lately India has been always mentioned whenever they talk about Bitcoin and this will carry on for a long period of time because Bitcoin is the freshest game changer in the field of cashless financial system that offer billions of Indians the capacity to start cashless transaction with the use of the digital currencies.
The spokesperson added that:
“We skipped the landline generation and have a modern mobile phone infrastructure. Similarly, India has the potential to skip the plastic money generation and build a modern financial infrastructure on this revolutionary technology.”
According to Mohit Kalra, the CEO of Coinsecure, India is expanding to Bitcoin and it seems that 2017 is very promising for its usage and adoption. Kalra says: