Crypto can end financial inequality
Should India have it’s own CBDC?
India cannot be sitting on the sidelines while other countries experiment and launch. This is a great opportunity for INR to go global. CBDC opens up the market to the world.
Big misconception is that CBDC will kill decentralised crypto. CBDC is needed for making existing INR transfers faster, easier and cheaper. Decentralised Crypto is needed for running your code on the Blockchain. Understanding the difference is key
In order to build a progressive crypto ecosystem in India, we need:
- Official guidelines
- National debates & discussions
- Industry participation in regulatory process
- Discussions on CBDC
- Crypto education
CBDC for India would help onboard millions of Indians into digital economy.
RBI should definitely proceed. Misconception is that CBDC would mean death of other crypto. That’s same as saying government website would mean death of other websites. CBDC is not the end of Crypto. It’s the next phase of “crypto mass adoption”.
Every CBDC launch onboards citizens of that nation to crypto. It teaches them about digital asset. These are signs of crypto going mainstream. You are early adopters.
When we started #IndiaWantsCrypto the community was 5 Million people. Today, there are 15M+ crypto people in India
- There is mass awareness
- Government has started discussing Crypto
- RBI is experimenting with CBDC
Let’s continue our mission. Central banks around the world need to hurry up with CBDCs. It’s going to be a race to innovate now. CBDCs will help a country be ahead of the curve and at the same time bring rapid crypto adoption.
Look forward to India’s CBDC.
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