The Indian Government Is Considering A Proposal, To Introduce Its CryptoCurrency Similar To Bitcoins, As Per A Business Standard Report.
As per undisclosed sources, The Proposal Was Discussed By A Committee Of Government Officials, And The Panel Found The Idea Of Setting Up, And Running Blockchain For Financial Services Useful . They also added that the government might name is, Lakshmi Coin .
According To a the Economic Times, RBI is planning to get in the cryptocurrency business, with Lakshmi Coin, which can be assumed as their version of Bitcoin.
If made possible, Lakshmi Coin could become a digital currency alternative in India, and also contribute to a new Blockchain .
SBI, the government-run bank, is sourcing tenders and contacting companies, to make them a part of a Blockchain . It could be used to share information among partners, through a centralized registry, which could be accessed by every partner, and where every event is registered as an unalterable block .
For their initiative called Bankchain, currently, SBI has partnered with IBM, Microsoft, Skylark, KPMG, and ten different banks .
It can be the fact that, banks find it hard to develop trust in the cryptocurrencies, but they do realize their current performance, and potential in the future.
