The Jio Network May Boost India’s Bitcoin Economy
The use of Bitcoin may get some more fortification in India as the region’s most wealthiest man is enabling super cheap 4G to a billion Indian citizens. India’s Richest Man Gives 4G Data to a Billion People. Mukesh Ambani is one of the richest men in India. Local consumers will have the opportunity to try Ambani’s new Jio Network, allowing 4G data at....
Related News
Speaking of Bitcoin in India, LocalBitcoins saw an increase in volume last week. If there is one thing India’s banknote ban has taught us, it is how the plan did not work. Swapping the most widely used currency for new bills was an attempt to remove “black money” from circulation. But it turns out most banknotes have been swapped successfully. Either there is no significant amount of black money in the cash economy, or the bad actors moved wealth into other assets. In the end, it appears this cash swap serves no real purpose. One of the more pressing questions is whether or not India’s....
India’s Prime Minister Narendra Modi announced on November 9, 2016, that 500 and 1000 rupee notes would be taken out of circulation in an effort to reduce corruption, terrorism, black money and counterfeiting, and will no longer be accepted as legal tender in India. His surprise announcement caused chaos in the country as citizens scrambled to adjust to a new monetary norm that banned about 85 percent of cash in circulation. This move was meant to bring billions of dollars worth of unaccounted money back into India’s economy. The Indian economy has thus far run primarily on cash....
A municipality in the province of Sevilla, Spain, has launched its own cryptocurrency, which aims to encourage residents and merchants to arrange transactions with it in the midst of the coronavirus-driven economic impact. Spain’s Sevilla Municipality Launches ‘Elio’ Cryptocurrency to Boost Local Economy According to Europa Press, the City Council of Lebrija created “Elio,” a crypto asset pegged to euro price, which will act as a tunnel to send economic aids to stimulate local consumption, between 50 and 200 EUR ($61 to 244) to each one of the 593 selected....
The Securities Exchange Board of India (SEBI) is setting up an advisory committee to focus on financial technology (FinTech) and issues related to the industry. The aim is to make it easier for everyday citizens to turn their savings into investments in a heavily paper-reliant economy. Revealed by SEBI chairman UK Sinha last week, the Fintech committee will explore ways and solutions to bring household savings into the financial market via technology. Among the fastest and more robustly growing economies of the world, India’s population holds a significant portion of its earnings in....
Legion, the hacking group mentions flaws in Indian banking system while expressing their support for Bitcoin. A hacker/hacking group allegedely behind the latest hacks of India’s politicians and media personalities’ twitter accounts has expressed its support for Bitcoin. Legion, as the hacker is notoriously known, surprisingly appeared in an interview to a couple of publications . It discussed the prevailing loopholes in India’s cyber security infrastructure, and claimed that the country’s banking system could be hacked with ease. Even though they have clearly mentioned that they are not....