India Wants Crypto - a hashtag that became a reality last week. Finally, the Supreme Court of India has struck off the Reserve Bank of India's (RBI) banking ban against #Crypto. The Court held that RBI Circular dated 6th April 2018 is unconstitutional.
The entire struggle of lifting the ban lasted for 2 years, firstly, because the opponent here was RBI - the central bank of the country and secondly, cryptocurrencies have been known to come with pre-packaged myths that are hard to dispel.
What does this mean for the future of cryptocurrencies in India?
Lifting this ban is a huge step for the entire financial ecosystem in the country especially start-ups looking to innovate and bring cryptocurrency to the masses.
Due to banking ban removal, Indian crypto ecosystem will see huge innovation in the next 12 months. This will not only lead to millions of dollars’ worth investment in the economy but will also create jobs - both factors contributing to the development of the Indian economy.
A roadshow called Crypto Bulls is already creating a lot of buzz in the country. Here’s what they feel about this historic judgement
“It’s time for everyone in the Crypto and Blockchain realm to join hands and take Crypto to every last town of India. And we are all set to make it happen! India Crypto Bulls Roadshow is a movement to evangelize Public chains and adoption of Blockchain in the StartUp ecosystem.
The Roadshow entails a RoadTrip across the length of the country, covering 15 major cities and everything else that comes in the way. The chain of meetups, meetings with the local Governments, large enterprises, and sessions at the top accelerators with 500 Plus Startups will create an everlasting ripple effect across the nation.”
With all the buzz and enthusiasm across the country, Archethic, a next-generation French and Indian blockchain startup is super excited to join this movement and drive its community growth in India further.
The two unique solutions offered by us: Archethic Public Blockchain by Uniris and Uniris Biometric Solution allow forgery-proof authentication without privacy disclosure to provide immense applications in various sectors like sports, smart cities, fin-tech, marketplaces and smart governance in developing economies like India.
We have already been awarded the label for the management of secure access for the Paris 2024 Olympic Games and look forward to bringing our technology for the Indian start-up ecosystem and organizations as well.
Our CEO, Sebastian says that the message given by "The Supreme Court of India is very good news for the freedom and self-sovereignty of Humanity, the scope of Blockchain technology is paradoxically much less about technology than about building a more transparent and secure world."
Our COO, Nilesh Patankar who is based out of Pune, India says that “India has always leap-frogged in the technical realm. We have been known to adopt the latest and the best much faster than other nations. It is most evident in telecom and payments. I am sure that this momentous decision will do the same to blockchain adoption."
As a team, we look forward to bringing innovation and cryptocurrency in a country of billion-plus people. The private sale for our coin UCO is already on and we couldn't have been happier that the Indian crypto community can now be a part of the Archethic community.
India of our dreams built on Archethic Blockchain, is a dream we cannot wait to come true. Join our community now and help us make our dream come true.
Archethic Public Blockchain
Archethic is a Layer 1 aiming to create a new Decentralized Internet.
Its blockchain infrastructure is the most scalable, secure & energy-efficient solution on the market thanks to the implementation of a new consensus: "ARCH".
Archethic smart contracts expand developers' boundaries by introducing internal oracle, time-triggers, editable content & interpreted language.
Through native integration for DeFi, NFTs & decentralized identity; Archethic offers an inclusive and interoperable ecosystem for all blockchains.
In order to achieve the long-term vision of an autonomous network in the hands of the world population, we developed a biometric device respecting personal data privacy (GDPR compliant).
Making the blockchain world accessible with the tip of a finger. Be the only key! https://www.archethic.net/
Archethic Foundation Non-profit in order to manage decentralized governance of the public blockchain