India’s Central Bank Looks at Blockchain to Curb Cash Use, Improve Tax Collection
Anyone who has visited or lived in India will tell you that cash is the most favoured method of payments for Indians. In 2016, the Reserve Bank of India (RBI), India’s Central Bank released a concept paper titled ‘Card Acceptance Infrastructure’. Merchants discourage cards use. The paper noted that whilst there has been a significant increase in electronic transactions in India, the growth has not occurred uniformly in all segments. In fact card usage in India is invisible in many areas. Many merchants actively discourage customers from paying with a card, particularly for smaller....
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