Following are some opportunities presented by the blockchain technology in India which might help us to gain even more footing in the international market:
Because governments regulate fiat currencies, the value of currencies such as the Indian rupee and the US dollar fluctuates in response to changes in the repo rate, reverse repo rate, and increased money supply, all of which can weaken our currency.
On the other hand, Cryptocurrency regulation is determined by demand and supply and cannot be influenced because it is based on technology over which no one has control.
Unlike fiat currencies, which can have their supply increased or lowered, the quantity of cryptocurrencies such as bitcoin is fixed at 21 million.
There are a variety of platforms that charge a variety of fees, such as taker/maker commissions, currency exchange fees, and hidden fees.
However, some of these platforms offer insurance that protects your crypto if it is lost in any way, and some of them also offer FD on top of the coin earnings.
COINDCX and VAUD, a Singapore-based platform, are two examples.
India’s population is predominantly young, and their investment in the stock market and cryptocurrency has increased over time.
If the government controls cryptocurrencies, it has much promise in the future.
There could be a significant amount of prospective investment, which will help to stabilize the value of cryptocurrencies.