No ideology. No hype. No panic. Just 5 controlled, incremental steps India can take to secure optionality, reduce offshoring, strengthen institutions & prepare for an uncertain global monetary future.
There was a time when Bitcoin was looked at as a threat to currency, but even the most ardent supporters will agree that it would do terribly as a daily-driver currency (due to the fact that finality takes 30 mins to kick in - hardly something you can use to buy your coffee).
You're right about the dependence for remittances - that's squarely part of the traditional fiat plumbing - which also extracts its pound of flesh (approx $25 bn annually in fees if I recall correctly).
I think the larger tragedy in this context is that India is run more by people than process - so it becomes critical to have the right access, so that the right inputs can reach the right people at the right time.
Thank you for your inputs.
There was a time when Bitcoin was looked at as a threat to currency, but even the most ardent supporters will agree that it would do terribly as a daily-driver currency (due to the fact that finality takes 30 mins to kick in - hardly something you can use to buy your coffee).
You're right about the dependence for remittances - that's squarely part of the traditional fiat plumbing - which also extracts its pound of flesh (approx $25 bn annually in fees if I recall correctly).
I think the larger tragedy in this context is that India is run more by people than process - so it becomes critical to have the right access, so that the right inputs can reach the right people at the right time.