Indian market seems to be in the middle of the blockchain cryptocurrency alliance. There is a definite yes for blockchain technology but uncertainty in the acceptance of cryptocurrency. Blockchain evolved from cryptocurrency back in 90’s but it started attracting investors in the recent years which came soared high on trade charts last year. Indian government imposed a ban on cryptocurrency but it is readily accepting blockchain and has begun integrating it into various sectors.
According to BC Focus, it is stated that the cryptocurrency segment is still waiting for the final call of government on the ban upliftment while the blockchain community is thriving pretty well. The maiden event International Blockchain Congress held at Hyderabad was a huge success and attracted developers from worldwide. Indeed such events make a huge impact on the awareness and acceptance which is just not the case with virtual currency as of now. Blockchain cryptocurrency liaison requires collaboration and propagation to streamline in the commercial Indian market.
It is anticipated that the success of International Blockchain Congress event is likely to help in the progress of cryptocurrency market as well. The encryption-based technology was originated to provide an operating platform for digital currency trade. However, blockchain evolved and later got adopted in other sectors considering its terrific database management and transaction monitoring capacity.
Future Of Blockchain Cryptocurrency In India
Blockchain cryptocurrency has caught the attention of investors and developers who are striving to make their apt usage as per Indian market and infrastructure. Several major foreign-based MNC’s have shown a keen interest in making huge investments in providing blockchain-based solutions for Indian companies.
Ripple has already opened its branch in Mumbai last year for expanding its business in India. They have collaborated with several major Indian banks to develop better remittance system. But no such developments are taking place for the cryptocurrency trade awareness.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]