BITCOIN, THE MOST famous cryptocurrency, was unleashed to the world in 2009 as a digital currency. However, it is not ideal as its value in terms of other official currencies like the US dollar and the Indian rupee keeps fluctuating. Cryptocurrencies in another form—more commonly called stablecoins like USD Tether, USDT, USD Coin or USDC—have acquired the character of an international currency.
These stablecoins tied in value to the US dollar are being used extensively for making international money transfers and payments.
The use of cryptocurrencies in crypto platforms is also becoming quite significant. Ether, the cryptocurrency of the blockchain platform Ethereum, is essentially meant for transactions on the Ethereum platform only.
Irrespective of their objectives, utility or use case, cryptocurrencies have established that it is possible to transform currencies into digital form.
Central Bank Digital Currency
Many countries have realised that it is time to issue currency in a digital form. The fact that private cryptocurrency innovators could successfully design and operate virtual or digital currencies, such as Bitcoin or stablecoins, has made many countries realise that they could launch their own digital currencies—the Central Bank Digital Currencies or CBDCs. Most are experimenting with their official digital currencies in the form of cryptocurrency.
Esta historia es de la edición February 20, 2022 de Business Today.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 20, 2022 de Business Today.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
