India studies launching its own cryptocurrency
The Ministry of Finance of India recommended the government to create its own cryptocurrency, which could be called Lakshmi, as the Hindu goddess of prosperity
A group of experts from the Ministry of Finance of India in charge of establishing the regulations for cryptocurrencies, recommended launching a state electronic coin endorsed by the Indian government. This could be called Lakshmi, as the Hindu goddess of prosperity.
A senior government official said, according to Quartz: “We are evaluating cryptocurrency and cryptographic token backed by the government.” Similarly, the government also hopes to develop its own chain of blocks.
For its part, the Reserve Bank of India (RBI) confirmed in its Annual Report 2017-2018 the formation of an “interdepartmental group” that is responsible for studying the “feasibility of introducing a digital currency of the central bank.”
Also, it has been discussed the possibility of naming the cryptocurrency “Lakshmi”, in honor of the Hindu goddess of wealth and prosperity.
Over a year ago, India suffered a demonetization, in which 90% of the bills were obsolete in the blink of an eye. Now, the central government announced the “Cashless India” initiative as a support for digital payments in the daily economy. However, most of the population is unbanked and can not access such payments.
L.Sáenz
Source: Diario Bitcoin
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