Following Demonetization India Is Changing Its Outlook On Bitcoin
Indian Prime Minister Narendra Modi’s demonetization of 500 and 1,000 rupee banknotes has thrown India’s economy and financial systems into turmoil. Local residents now struggle to obtain cash to support and finance their day-to-day living. The government’s restriction on gold importation is also affecting the general population, as 78% of Indian....
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On the eve of the New Year, the Indian Prime Minister Narendra Modi went on air to make an address to the nation, this would be his first televised speech after the Nov. 8, 2016, demonetization announcement. Mr. Modi is a Teflon coated slick politician who is both glib and prone to bouts of braggadocio. His televised appearances are the subject of many a Twitter joke and WhatsApp message, which act as a source of humor in times when many Indians are forced by his government to spend hours exchanging old notes for new and there isn’t much to feel cheerful about. They are also being harassed....
Abhishek Bhandari of Asiadigicoin (ADCN) explains how the ongoing demonetization of India helps Bitcoin and other digital currencies. Cointelegraph: Would you say the recent demonetization in India is a step in the right direction? Abhishek Bhandari: Well for centralized currency it is a great step and a temporary solution for a country like India where we are facing a lot of problems like corruption, fake currency, black money, etc. The Indian economy needed such a step to clean and refresh the whole currency mechanism. CT: Is the business community faring well from this initiative? AB:....
Unocoin, one of India’s foremost Bitcoin companies, has launched a new mobile application for both the iOS and Android platforms. This new application has been developed by Unocoin themselves and will allow Unocoin customers to buy, sell, receive as well as store Bitcoin in one place. Interestingly, the application makes its way to users as Indians are trying to grapple with the demonetization of Rs.500 and Rs. 1000 banknotes by the Government of India. Bitcoin has hit new highs in the domestic Indian markets since demonetization occurred on the midnight of Nov. 8. All-in-one app for....
India’s ongoing demonetization process has created chaos and inconvenience for many Indians, especially the country’s middle and lower class. The government’s purpose is to scrap 86 percent of the current physical money in the system to curb counterfeiters and stop the financing of terrorist organizations. Bitcoin.com spoke to Sameera Pandilakshmi, an....
The disappointed expectation in the price of the world’s top digital currency, which slumped to a low of $864 on Christmas Day, and the market cap that reversed on the previous gains to $13.88 bln is now being corrected, a push Indian market insiders say will continue till at least Q1 2017. Bitcoin is now worth $915 after a sloppy Dec. 25 market, with the market cap standing at $14.6 bln. Why India again. The effect of the Indian market on Bitcoin is in the news again. The co-founder of Zebpay, Sandeep Goenka, believes that India should still be in the Bitcoin picture even though the....