India’s finance minister to support digital currency bitcoin in India will have a bright future

India’s finance minister to support digital currency bitcoin in India will have a bright future

India finance minister Allen? Gute Li (ArunJaitley) said this week that the bank should enter the digital era, open the “task model”. Recently, the India policy took note of waste due to the major media headlines around the world. Indian Finance Minister said the government should continue to use real money gradually abolished.

Indian Finance Minister encouraged the use of digital currency

At the beginning of November, India’s prime minister Narendra modi? (NarendraModi) because of the abolition of large denomination rupee policy shocked the country. Now, after the banking industry representatives, Jaitley said they plan to set up a commission, is committed to promote digital currency. First, there will be one hundred thousand POS machines put into use, and gradually expand to all parts of the country.

Many politicians believe that India is not ready to enter the digital mode, but some banks have been in this area has made great achievements. I think India’s politicians should accept that they put in front of the right people will change their habits.

India cashless society

Jaitley said that now the bank customers have no cash in the use of technology, “they’re ready to accept this architecture”. He said that currently there are 1 million bank cards in circulation, the currency in the application mode of reform.

The only agenda of this meeting is to expand the scope of use of Digital Banking, called for the banking system into the task model, carry out the practice.

In response to the prime minister in the cashless society call, India Goa hope to become the first to accomplish this goal of the city. India’s defense minister Ma Lo barrica Hal? (ManoharParrikar) said: “the GOA is the first prime minister cashless society dream state.”

No cash dreams drive the development of bitcoin

Since Modi announced cash waste policy, India bitcoin penetration rate rising. Bitcoin.com recently reported India users of bitcoin wallet Purse.io rate increased significantly. In addition, the people of India to buy bitcoin in exchange rates are higher than in other countries at least $100.

This week, a currency trader disclosed his encryption method using India bitcoin premium arbitrage, a detailed description of the United States and how traders make the difference by sending their bitcoin overseas.

November 24, 2016 (U.S. Eastern time) at two o’clock in the afternoon, India’s three largest bitcoin exchange the average purchase price of 67735.33 rupees or $984.92. At the same time, the three major U.S. exchanges the average price of $735.92. The bitcoin premium of $249 or 33.8%.

India bitcoin price

(Note: as of press time, India bitcoin purchase price is still as high as 61485 rupees, about $895.)

In short, India bitcoin prices continue to uplift, and the causes of this phenomenon seems to be waste note policy of the government. If the people of India bitcoin enthusiasm, so this kind of virtual currency will be a bright prospect.

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