India’s central bank to study “legal encryption currency” as a digital rupee

nnnThe Indian government plans to fully realize the digital economy transition, the use of digital currency instead of the rupee. The central bank said block-chain technology can lay the foundation for this goal, so pay close attention to and study the impact of block-chain technology. But while the central bank wants to issue a block-based encrypted currency as an alternative to the rupee, the central bank is not in favor of a non-central bank issuing a digital currency, and earlier called on investors to guard against the risk of encryption money, Exaggerate the potential of encrypted money.n
nnTranslation: Annie_Xun
nThe Reserve Bank of India talks about its implementation of encrypted currency studies, implying the role of encryption in the replacement of future digital currencies.n
nThe Indian government is currently attempting a transition to a comprehensive digital economy, launching a Digital India project and research program to advance the transition process.n
nRBI research agency in January issued a document that block-chain technology can provide the necessary basis for rupee digitalization.n
nNews reports said Sudarshan Sen, executive director of RBI, said at the Financial Technology Conference in India that the plan is still in progress.n
nn”At present we have a group of people concerned about the legal encryption currency. This can replace the Indian rupee. We are closely watching.”n
nnHowever, the Indian central bank does not pay much attention to the non-central bank issued by the encrypted currency, such as Bitcoin, Sen said RBI “do not like” this “private” encrypted currency.n
nRBI had previously issued an investor warning to remind attention to the currency risk of encryption, the vice president also said in his speech in March that its potential “was exaggerated.”n

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