Recently Supreme court of India lifted the ban on dealing in cryptocurrency, Reserve bank of India ordered the ban taking in account the suspicious nature of crypto dealing. It took more than a year to fight for the upliftment of the ban, but what about the exchanges which got bankrupt and out of the business due to this ban. Every new technology is faced with the suspicion of misuse. The real question which lingers today is can we trust crypto currency in place of fiat money? The mere decentralization of money is not the answer, we have seen exchanges getting hacked and large amount of money vaporizing in to thin air.
But the silver lining is the BLOCKCHAIN, Blockchain is the heart of cryptocurrency, it is blockchain which can revolutionize our lives, businesses, etc. A recent study concluded that banking sector can be made more efficient by the use of block chain technology, it can help banks to reduce frauds and help banks in keeping track of their assets and liabilities. Major concerns are about how to regulate it in such a way that its misuse is minimum, banning anything without proper research never gives us the solution but complicates things more it gives rise to illegal activities, tax evasions and a whole lot of negative things.
Question about cryptocurrency 's future only depends on making dealing in them trustworthy and a way in which interests of every consumer is secured.
