Indian Crypto Firms Are Now Securing Millions of Investments after Supreme Court Lifts Ban Apparently
This has been a great piece of news when the Supreme Court of India directed Reserve Bank Of India to facilitate cryptocurrency firms and startups also. The cryptocurrency has been recognized as a commodity to preserve money rather than being perceived as a direct threat to the local currency.
In a vague makeshift to halt the progress of cryptocurrency, there was no servicing to crypto by the banks and it presented a serious problem for the digital currency holders. Now, apparently things have started to move in a positive direction and innovative solutions are the way to go for the Indian Economy.
Investments for Tech Startups Have Started To Roll In
India has been a great place where people love to adapt to new technological trends. It has been the hub of outsourcing and the IT Industry contributes vastly to India’s export of services. Since legal barriers have been lifted, it is now time for the Blockchain-based startups to maximize this opportunity for securing funds.
Innovative solutions like bitcoin trader platform are making quite a noise where algorithmic trading takes place where minimum human interference is involved. CoinDCX is an Indian cryptocurrency exchange that has secured now $2.5 M Investment that is a huge amount to set things straight for itself.
The Polychain Capital and CoinBase Ventures are showing great interest in the cryptocurrency market of India. Several new exchanges are in their launching phase and firms are investing in time, money, and skills to help build powerful platforms that have the serious potential for economic growths.
The pandemic hitting the economy badly has shattered all the concepts related to financial securities of businesses and jobs. It has been an eye-opening experience for the masses where people have been left out because they haven’t adapted towards the technological trends. The Government of India is keen to explore growth opportunities by expanding its IT-based operations.
ANITI Ayog has rolled out the Roadmap for National Blockchain Strategy Implementation overhead by the Prime Minister himself. The Indian States are very much interested to have blockchain-based software solutions where data can be centralized and remains scalable to operate.
With a massive population and huge amounts of data, the governance issues now can only be resolved through powerful data analyses. It can be only made possible with the help of Artificial Intelligence and centralized databases. The security of data and transactions poses another serious concern that is all addressed by IoT and Blockchain.
It is quite inevitable now to avoid where the world is leading itself to. It was rightly highlighted by the Supreme Court’s judgment that if India doesn’t adapt to the new trends then it will be left out certainly. Facebook is also getting to launch its own digital currency and the policymakers should be quick to adapt towards these innovative economies or it will be become quite difficult to overcome the situation if delayed further.