India Launches Open Competition to Build Web Browser Using Crypto to Digitally Sign Documents
The competition, which has a submission deadline in July next, will allow tech enthusiasts add to crypto innovation in India.
The competition, which has a submission deadline in July next, will allow tech enthusiasts add to crypto innovation in India.
The RBI Governor Shaktikanta Das has severally admitted that the country is moving towards CBDC adoption amid de-dollarization.
Sources familiar with the matter said that the architects of the retail CBDC are working to incorporate offline transactions and eyeing half a million users by July.
By issuing a CBDC, the UAE hoped to address its cross-border payment challenges and ‘drive innovation for domestic payments’.
Data from an official digital rupee application by the ICICI Bank shows that the pilot program is full and is not taking any more users.
India has been indecisive about whether to ban crypto or not, but it comes off as one of the nations that levy up to 28% tax on proceeds from digital currencies and their underlying trading activities.
The G20 is working to create a global crypto policy consensus for better asset regulation and accountability.
The CBDC program will help RBI to experiment with more features and applications of the digital rupee in future pilot programs.
India has plans to later integrate the digital rupee with the existing bank apps and services.
While pushing for a quick launch of its CBDC, the Indian government has not been welcoming to cryptocurrencies in general.