- Tech expert Tanvi Ratna, shares her thoughts on the digital Rupee.
- She says the digital Rupee will be fairly advanced.
- India’s infrastructure seems to be in place to welcome the digital Rupee.
Indian tech expert — Tanvi Ratna, Founder of Policy 4.0 shares her thought on India’s upcoming digital Rupee. In detail, she expresses her hope for the future digital asset with CoinDesk via a video.
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In detail, Ratna says that she expects the Indian digital Rupee to be fairly advanced. This is likely because the country has been planning to launch the digital Rupee since 2019.
In fact, Ratna draws attention to a report from India’s Ministry of Finance from 2019. Here, it mentions that India recommends the buying of virtual assets. In addition, it also stated the coming of the digital Rupee. To add on, the report goes on to suggest further chapters explaining India’s intent for the digital asset.
From her experience with working with the digital Rupee project, Ratna had much to express. To start off, she says that certain pilots, functionalities, and features are currently in the experimentation phase.
More so, she says that the digital Rupee will be quite promising as it is starting off from a pretty strong point. In particular, she says that India is in a very good place in terms of fintech. Thus, it seems the digital Rupee will be quite a show pony.
Furthermore, Ratna says that India already has certain perks in place. For instance, India stats and the instant payment settlement whale — UPI, are with the project. Not to mention, the infrastructure needed to launch the digital Rupee is already in place.
Hence, the rollout for the digital Rupee should go smoothly. Lastly, Ratna hints at further news about more advanced experiments for digital assets. Specifically, these details will likely come out in Q2 of 2022.
No doubt, India seems to be gearing up to elevate the use of crypto and digital assets this 2022. Just recently, the country announced a 30% tax on crypto sales transactions. Also, it confirmed the arrival of a blockchain-based RBI-backed Central Bank Digital Currency (CBDC) in 2023.
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