WHY UPI BECAME POPULAR IN INDIA?

UPI is a merger platform which merges and collects  almost all the banking services of India in one app.

It's easy to use because we just need the UPI ID and pin to send and receive amount.
We can perform Real-time bank-to-bank transfer services by just using your phone number or unique ID.


WHO CONTROLS UPI?

UPI is under NPCI (National Payments Corporation of India) , RBI and IBA ( Indian Banks Association) which are the trusted organizations of India.
 These platforms interconnects all the banks for fund transfer services.

WHY UPI?

Before the UPI services launched in India the process of fund transfer was very hectic and difficult.
People were unable to trust third party apps for fund transfers therefore they preferred either to stand in long queues of banks or do it via Internet Banking which was done very rarely (if compared to bank users) because it was very complex and time taking.
 
But after the commencement of cheap internet in India (THANKS TO JIO SERVICES) and government supporting online transactions , the users and UPI apps increased very rapidly which made bank fund transfers very easy and convenient.
Earlier before UPI was introduced . I was the only one in my house who use to transfer amount via net banking . But after UPI came my father used to send me my college fee and pocket money directly via Gpay , BHIM , PhonePE which made his work very easy.
He now started doing TV recharges and pay electricity bills by his own just after these apps were introduced as they are very easy to use and safe too.

There was another reason he started trusting online mode of payment because government also promoted online cashless transactions to avoid corruption in our nation.
As per report around Rs.8,000 crore worth transactions are being made every day via UPI Transfer.

WHAT IS BITCOIN NOT PREFERRED OVER UPI AS A MODE OF TRANSACTION IN INDIA YET ?

Digital currency is upcoming future of world but it's not yet recognized in India.
Indian experts claims that UPI mode is the most advanced and safe platform for payment and they don't need bitcoins as a mode of exchange.
They also predicts that it will increase new form of corruption in India .

What is your opinion  ? What will you prefer if BTC will become a legal mode of transaction ?
Share your views.