From the creation of Bitcoin in 2008 to today, cryptocurrencies have become very important all over the world. The progress made by this sector since the launch of the Covid-19 pandemic in January 2020 is staggering. The “cryptographic market” has grown by more than 500%.
However, the Finance Minister announced in a 2018-19 budget speech that the government does not consider buy crypto with credit card cryptocurrencies to be fiat currencies.
Taking into account the fact that India has adopted all the early stages of the digital revolution, when semiconductors, the Internet, and smartphones get attention, we need to change the way we think and accept these cryptocurrencies. This is already the first time. Of India. .. Step into a new stage of the digital revolution.
Importance of cryptocurrencies:
Corruption Control-Blocks run in peer-to-peer networks, helping you stay in control of corruption by tracking the flow of funds and transactions. Time Efficiency: Cryptocurrencies run entirely on the Internet, run by a mechanism with very low transaction fees, and run almost instantly, saving money and considerable time for senders and receivers. Useful for. Profitability: Banks, credit cards, payment gateways, and other intermediaries receive nearly $ 3% of the world’s total economic output above $ 100 trillion for services. Blockchain integration in these sectors can save hundreds of billions of dollars. Recently, the government announced the introduction of a bill. In India, funds allocated to Indian blockchain companies are less than 0.2% of the amount raised by sectors around the world. With …