October 8, 2017

Can Digital Currencies Save The Indian Economy?

India, once touted by experts as the world’s next economic superpower spot, is facing decline and extremely high unemployment.

CNN just reported India’s economic growth fell from 7% to 5.6% in the last six months, and alarmingly, Head of the Center for Policy Alternatives in Delhi and former official at India’s finance ministry Mohan Guruswamy quoted as saying, “We’re on a downward spiral.”

Cryptocurrencies, like Bitcoin and Dash, already a preferred form of payment in many countries facing hyperinflation and political turmoil, have emerged as a viable alternative for everyday Indians. Cryptocurrencies resist the fluctuations of mainstream currencies like the Indian rupee because they are not controlled by a central bank or government.

Read more at https://www.valuewalk.com/2017/10/digital-currencies-india-gdp/

My 2 cents: no transaction should be anonymous

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