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A Building Week

by Richard Hendrix


India May Issue Its Own Bitcoin-like Cryptocurrency As Legal Tender

The Indian government is considering a proposal to introduce its cryptocurrency similar to Bitcoin, even as it is working on creating a legal framework for bitcoin and other digital currencies. The proposed govt cryptocurrency would be issued directly by the Reserve Bank of India. India is one of many governments that are looking into issuing their own currencies. This will be a phenomenon to watch; it's not really clear to anyone why users would voluntarily opt into a currency controlled by a central entity that is subject to political whims and inflation.. unless they were forced to. But could they be forced to? Time will tell...


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