The domestic cryptocurrency market has gone into a tizzy. All fingers point at the RBI and the finance ministry.
EVER SINCE IT WAS INVENTED 10 years ago as a panacea for the excessive use of fiat currency, cryptocurrencies have been disrupting the global financial ecosystem. It has even created ripples in the digital world — and beyond. It has lured investors with the promise of making easy wealth. It has invited anarchists with the idea of a new way to exchange goods in the ever-evolving econorama. And it has given regulators and governments all over the world sleepless nights because it tends to undermine local legal currency if people turn to cryptocurrencies for day-to-day transaction.
In these 10 years, they (there are many varieties) have acquired a market worth over $269 billion, and new cryptocurrencies are not only being introduced every day but digital-mining farms — using massive computing and electric power — have sprung up across the world to create more and more such digital currencies. There are 1,566 cryptocurrencies trading in many of the world’s unregulated exchanges — with bitcoin itself, the popular one among them all, valued at about $160 billion.
And it is no surprise, over the last few years, many Indians have ventured into the world of cryptocurrency investing. A recent report notes that there are more than two lakh cryptocurrency investors in India, and the number is growing (unofficial estimates suggest a far fuller figure). Online exchanges have reportedly been fast adding digital currency enthusiasts because of the frenzied speculation and price rise in these currencies.
هذه القصة مأخوذة من طبعة April 14, 2018 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة April 14, 2018 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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