Quote from: debuni on February 02, 2018, 10:32:25 PM

Quote from: remedcu on February 01, 2018, 08:06:19 AM

Source: https://steemit.com/remedcu/@remedcu/india-budget-2018-19-or-arun-jaitley-finance-minister-of-india-on-cryptocurrency

As quoted by Arun Jaitley, Finance Minister of India about Blockchain & Cryptocurrency in India's budget 2018-19:

"Distributed Ledger System on the Blockchain Technology, allows organisation of any chain of records or transactions without the need of intermediateries.

The government does not consider Cryptocurrencies as legal tender or coin. And will take all measures to eliminate the use of these crypto assets in financing illegitamate activities or as a part of the payment system.

The government will explore use of blockchain technology proactively for ushering in a digital economy."

Interesting reading because I was wondering why they banned all coins. Seems they want to control it all and I'm pretty sure that India's government will run crypto-Rupee in 2018.

They will not only run crypto-Rupee, they will also try to harness the power of blockchain for their benefit, maybe they would use it as a backbone to their banks and more. For now, what's certain is that I'd they will explore blockchain tech, I am sure that by the time they finished their exploration they will have a centralized product with it.