India on Blockchain - Insights and Future
Aug 29, 2017 Posted / 140990 Views
1. Bitcoin has started on to increase its mainstream grip in India. Over the precedent few years, Bitcoin professionals and buffs have highlighted the market prospective in severely in India, considering the quickly increasing Smartphone adoption rate and domestic payment market in the country.
2. Owing to the demonetization last November in India, there has been an increase in awareness of bitcoin in India, but still it accounts for less than 0.5%.
3. These figures about the unawareness of the Bitcoin is a huge disappointment for the economy.
4. We are still a developing nation and the pace with which this cryptocurrency is moving in the global market will only enhance and increase the economy.
6. It is not the case that our nation does not know much about Bitcoins, but the implementations and the regulations over the Bitcoins is still at stake.
7. There has not been any kind of regulations or proper systematic rules over the Bitcoins, by which the use of it is always in a doubt.
8. Not only the regulations but there are only few platforms in India which provide the countrymen to enlighten about Bitcoins, encourage them to invest and use Bitcoins securely, which can lead to awareness as well as profit for all.
9. BitIndia is one such platform which has come up with the solutions related to the issues for the digital currency in India. It is the First decentralized platform which is totally secure and sound for investing and guiding people to know about and invest more in to Bitcoins.
10. BitIndia Wallet and Exchange platform will be the most easy and secure system of buying, selling and securing bitcoin, ethereum, ripple from every corner to corner of India.
11. BitIndia Wallet and Exchange will help customers to purchase and trade in different cryptocurrencies through the exchange and secure their bitcoins, ethereum and ripple as a saving in the BitIndia Wallet.
12. India has a GDP of around $9.489 trillion and has cash transactions of worth $200 billion every day. The soaring rate of bank charges as well as the transaction fee amounts to $10 billion for a day.
13. This formed the basis for the idea behind Bitindia exchange. The largest cryptocurrency exchange in India would put in huge diversity to the existing banking system in the country, and also will be the solitary wallet and exchange in the country to presently allow storage of ether and ripple and also trading of top cryptocurrencies.
14. If the number of the people increases with the BitIndia platform, there will be a huge difference in the economy. Slightly, slowly and steadily if the awareness rises to 20%, it will be such boom for India, in many aspect. The 20% mark is not at all tough to acquire, but still India needs to work on many things for the Bitcoins. Because any change, needs some time to be implemented, with proper awareness, rules, pattern and systematic organizations for it.
15. The adaption of Bitcoins can be implemented into various sector of Indian economy, from banks to real estate, every where we can introduce Bitcoins as method of payments, or for trading and even just for investment purpose. India has a huge number of youth population, with out of the box ideas and capabilities. They all just need a proper direction for it, and young minds are coming up with so many start ups related to Bitcoins, this shows that there is enthusiasm amongst the Indian people.
16. The huge surge in the prices of Bitcoins time and over has only paved way for the increase in the profits. Morever, this system of cryptocurrency is decentralized one, quite transparent, easy to use and monitor.
17. User, investors can always keep an eye over their Bitcoins. It is transparent network which will also keep a check on the frauds and forgery cases.
18. It is a high time that we come up with more and more use of Bitcoins, because the economy needs a speed and change, which will help India to be ahead of its time.
19. Contrasting from others, BitIndia has by now finished its development for its wallet, which permits people to include Bitcoins to their BitIndia wallet.
20. BitIndia is setting up to start on with the largest trading platform in India which would show all the ruling cryptocurrencies to do business on in the most uncomplicated, fastest, and free of charge platform to buy and sell cryptocurrencies throughout the globe thus, giving a hard-hitting competition to other existing exchanges.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
Hottest Blockchain Newsletter
For updates and exclusive offers, enter your e-mail below.