Bitcoin has been gaining popularity in one of the most populous countries in the world, India. The digital currency is backed by the Blockchain technology, which has established itself as the driver and backbone in many fields.
Both Bitcoin and Blockchain technology have been around since 2009 when Bitcoin emerged on the world stage and have steadily impacted the financial services industry and how it delivers products and services. Recently The Hindu Business Line, an Indian newspaper, quoted Nicolas Cary, President of Blockchain, one of the world’s largest Bitcoin Software Company as saying:
“Over the past 12 months, we’ve seen unprecedented activity and growth in India. We think India could be the most significant market in the world for digital financial services. Within the next five years, it can potentially be bigger than that of the US.”
However, what will it take for India a country with 22 major languages, a billion plus people a geographic span of 3.2 mln kilometers to get onboard the Blockchain revolution?
India needs specific solutions and BitIndia, a company that is promising to deliver a Blockchain wallet and decentralized crypto exchange “for the streets of India,” is emerging as an India centric platform that can act as a driver for the growth of both cryptocurrencies and Blockchain in the subcontinental country…