Will bitcoins be the future money for India?
Sairaj Iyer ‘The Future of Black Money’, a panel discussion hosted by All India Association of Industries (AIAI) at the World Trade Center looked at alternative payment systems such as bitcoins and block-chain to curb the flow of black money. The panel discussed way beyond than the conversations one gets to have with the local baniya, laundry-man, or even newspaper vendors. A bitcoin for laymen is a cryptographically programmed digital currency format that gets validated from a central node. In simpler words, transactions can be efficiently tracked, making them visible across the length and breadth of the globe. Bharat Coins, a system currently mooted by experts would be using identification measures such as KYC and Aadhar ids to generate a unique transaction ...
