End of Cryptocurrency?
Many of you being on account of being on the internet in this day and age obviously know what a 'cryptocurrency' means
for those who don't A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units.
The most popular and the beginning currency being the 'Bitcoin' created in 2009, was the first decentralized cryptocurrency. Since then, numerous other cryptocurrencies have been created as alternative form to Bitcoin which still remains the most popular form of cryptocurrency.
Last year the bitcoin saw the heights of it's value when it reached as high as 19,000$ per bitcoin, Despite being criticized by many economists and many have 'invested' in this form of cryptocurrency in the fear of missing the Hype train and opportunity of making quick buck. The RBI released a press note recently denouncing the crptocurrencies for the second time and a month later 'Economic Times' reported that SBI , HDFC bank, Yes bank and ICICI bank have suspended accounts of some of the cryptocurrency exchanges in india like the Zebpay Unocoin Btcxindia and Coinsecure demanding collateral from them which as of now have failed to provide, this can be a major blow to many of the cryptocurrency investors which is a huge number for every 10 transactions made of bitcoin 1 is from india.
credits:Economic times
It is now all bad news for the 'cryptocurrency consumers' in india Anant ambani director of the reliance jio infocomn group said at his first solo appearance at a public event that "Jio is committed to contributing and using open source technologies to improve consumer experience" He voiced his support for the 'Blockchain' technology which supports these cryptocurrency stating that the 'peer-to-peer' technology is consumer friendly and will provide support to the india's growing public cloud market, while the future of bitcoin is uncertain, the Blockchain technology might be here to stay.
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