It’s been 7 years since the digital currency came into existence, and the response from the Indian community sounds promising. The past year had some major initiatives taken by the Bitcoin evangelists in India, they strongly believe that it is going to connect every Indian online for their financial needs in the coming years.
And the initiatives taken by them should not be forgotten as we move on to the next calendar year. We thought taking the beginning of the year into account, this would be a good time to look into the journey of the bitcoin in the Indian scenario last year, to keep the momentum up and going for the coming year.
The launch of Digital India initiative and the government’s eye in the Internet of Things (IoT), there was a huge opening for bitcoin technology enthusiasts and entrepreneurs to get involved in related projects. The DigiLocker, a cloud based digital locker to store documents was expected to use the blockchain technology for security and transparency.
From the initial reluctance towards Bitcoins, the Reserve Bank now has an open mindset about the bitcoins and is looking into the technology as the country is encouraging adoption of electronic transaction to bring in accountability and increase the efficiency of economic system.
HackCoin India’s First Blockchain-based Fintech Hackathon was held at the iconic BSE building.