Blockchain & crypto news from India
The number of active crypto wallet users gives a broad picture of the ecosystem of blockchain and crypto users including investors and traders. Despite the recent surge in Bitcoin price, the number of active and unique wallet users in the last quarter of 2023 dropped 9.7% year on year compared to the fourth quarter in…
The National Bank of Australia recently send stable coins on the Ethereum blockchain in what is its first cross-border pilot payment. The bank also used smart contracts for various global currencies, thus testing the use of cryptocurrency for its large clients located outside the country. The bank has created its Australian stablecoin, AUDN, that will…
Other than for scams and frauds, cryptocurrency has its uses in the world of charity too. Crypto payments are fast – millions can be transferred from one part of the world to another without too many people in the know. Setting an account is easy, and there are no intermediaries. The usefulness of digital currencies…
The pilot study of the CBDC has raised curiosity about the new digital currency. While the responses of participants are expectedly tepid and restrained, the question uppermost on everyone’s mind is – how is this better than UPI/Bhim/Paytm? The retail pilot of CBDC is planned on a limited scale, and currently only on invite basis….
‘The Bitcoin-Macro Disconnect’ by Gianluca Benigno and Carlo Rosa, published this month by the Federal Reserve Bank of New York, is a staff report inspired by the aim to figure out the drivers of prices of Bitcoin, the most popular of cryptocurrencies. The motivation comes from the huge market capitalization that Bitcoin soared to recently,…
Many firsts are being created during the retail trial phase of e-Rupee, India’s answer to Bitcoin and the onslaught of cryptocurrencies. The latest in the news are payment platforms and retail chains announcing their integration of the CBDC. Reliance Retail has shared it has integrated e-rupee into the Freshpik stores to begin with. This has…
Away from the hype and excitement around blockchain and new forms of money, a Foreign Policy article offers a sobering view of the new business world that has sprung around the hype around cryptocurrencies, tokens, DeFi, NFTs and digital assets. It turns out it is the same old finance and market practices that have found…
The ongoing World Economic Forum at Davos is a meeting place of the big names of the world. This year, crypto and blockchain businesses have a lot at stake after a year full of turbulence. Several scams and collapses have hit the trust factor. An unlikely competition has now emerged in the form of CBDCs…
At an event organized in New Delhi, RBI Governor Shaktikanta Das shared his views on cryptocurrencies, their nature and the threat posed to India’s economy. According to him, the perceived value of cryptocurrencies is nothing and is “make-believe”. RB Governor Shaktikanta Das pointed to the fact that there is no underlying value in cryptocurrencies. He…
The collapse of FTX has spoiled the crypto party has never before. Little scams and hackings were common, but a mainstream player admitting to wrongdoing and playing around with investor funds has shaken the faith and trust of the global community. Here is a look at the funding scenario in the year gone by and…