RBI TOLD THE TIME IS RIGHT TO DIGITISE THE RUPEE…

by on 16 Ιανουαρίου 2017

The research arm of the Reserve Bank of India has recommended that the central bank should begin work on the creation of a digital currency unit using blockchain technology.

In a sweeping report on the application of blockchain technology (dubbed BCT) in financial services, RBI’s Institute for Development & Research in Banking Technology points to the groundbreaking digital currency initiatives underway at other central banks around the world, including the UK, Canada, Sweden and the Netherlands, and urges the RBI to follow suit.

The report states: «From a technological perspective, we feel that BCT has matured enough and there is sufficient awareness among the stakeholders which makes this an appropriate time for initiating suitable efforts towards digitising the Indian Rupee through BCT.»

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