5 Reasons Why India Needs An Active Cryptocurrency Economy

The mention of cryptocurrencies doesn’t require any introduction or explanation. As one of the most hotly talked-about topics in the recent times, cryptocurrencies have been successful in inspiring discussions (or debates) at dinner tables, corporate board-rooms, even amongst the regular banter amongst the chums.

While authorities and government officials in India continue to warn users against the use of cryptocurrencies for investments or transactions, young and unorthodox Indians haven’t shied away from getting their hands on this global phenomenon.

The same has created a strong impetus in the economy for the mushrooming of several startups venturing into the crypto space, as coin miners, exchanges or aggregators.

In the past, the Government of India has taken certain radical steps favouring tech innovation and disruption. Extending the same treatment of the brimming world of cryptocurrencies will resolve a host of administrative and bureaucratic hurdles in the nation’s ambition of emerging as a developed economy.

Here’s enumerating the radical transformations India would achieve through an active cryptocurrency economy.