Our country's finance minister has announced in the 2022 budget that our country's digital currency will be launched in association with RBI, so will our country launch a separate bitcoin?
So we are going to answer your similar questions in this article.
Our country's Finance Minister has announced that CBDC (Central Bank Digital Currency) will be launched in the financial year 2022 and 2023. This means that our country's digital (Crypto) currency will be launched.
Will India's digital currency be based on blockchain?
Our Finance Minister Nirmala Sitaram has made it clear in her budget speech that India's CBDC will be based on blockchain.
Blockchain technology will make currency management much cheaper and more efficient.
In blockchain technology, you are given a digital wallet and that wallet has a 16 digit address. Now with this 16 digit number, anyone can send you digital currency.
How to buy India's digital currency?
Now it is not clear how to buy India's digital currency but in the same way that we buy most of the digital currency, India's digital currency can also be bought.
So first CBDC will be listed on most crypto exchanges and then you will be able to buy India's digital currency.
It seems that you can buy CBDC from RBI also.
How Will The Government Tackle Volatility of the Crypto Market?
CBDC will be launched in our country and according to big investors, this digital currency of India will be a stable coin like tether (USDT) and USD Coin (USDC).
The name of this digital currency of India can be IDC, CBDC, or IRDC.
IDC - Indian Digital Currency
IRDC - Indian Rupee Digital Currency
CBDC - Central Bank Digital Currency
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