!!Shri Ganeshay Namah!! !!Shri Vakratunday Namah!!
Heyy Steemitians and MGSCians....
In this blog i will talk about some facts and thoughts that what will happen if India launch its own cryptocurrency acting as a legal tender...!!
Suppose if India launches its own crypto lets say it as "BHARATCoin".
Now BHARATCoin is launched and Indian govt. is regulating it, then there will be a lot of advantages of it, that is following-
1. Govt. will have full control over it and any kind of misuse can be neglected.
2. Great amount of money can be saved which was earlier expended in printing and transporting the fiat
currency.
3. Corruption and any kind of bribe case can be avoided.
4. Trade with other country can be attracted which will automatically increase the price of currency,because we all know that India has an ample amount of opportunity of foreign investment.
5. Economy will also be benefited as if this coin will always be in demand in country and outside the country as well, we Indians are more than 1 billion and will create a huge demand of it.
6. Tracking of any kind of fraud can be easily done by using blockchain technology.
7. We need not to carry any kind of physical wallet, hence we are safe from any kind of robbery or loot.
Now one thing comes to my mind that how much funny the thing is that a girl is paying to PANIPURIWALA BHARATCoin hahaha, we can also pay to our samosawala in BHARATCoin.
Everything has a dark side too, having a lot of advantages cryto has some of its advantages so if a country is going to it , some thing to be kept in mind...these are -
Some disadvantages which can be overcome with time
1. Security-security is the prime concern for ever country and any kind of hack and disruption in technology can lead to a big problem
2. Financial Stability- This is a very big concern regarding cryptocurrency because the price fluctuation of any coin is very difficult or the govt has to deal with it wisely which will include a big role of financial agencies to keep a proper watch over it.
3. Acceptance in country- In a country where some of the population is illiterate and some people is still not much friendlier with technology will find this thing a little bit difficult.
Yes there are a lot of white and black of this but with some efforts and great willpower is needed to do the thing possible in any country........Join Crypto revolution.
Let me know ur views and thoughts on this in the comment section..and comment also if u are also find it funny to pay in BHARATCoin somewhere.....hahahha
That's all folks...
Here Ctyptomad10 signing off..
