Reserve Bank of India (RBI) Deputy Governor Rama Gandhi has implied confidence in virtual currency can only come about if authorities endorse it.
In cautionary remarks on Bitcoin and Blockchain on Wednesday, the central bank senior also said decentralized technology overtaking traditional forms of tender is a “pipe dream.”
“It may remain a pipe dream that Blockchain will eliminate currency by ushering in virtual currency,” he commented, further adding that “it is unlikely.”
Gandhi’s remarks come amid fervent trading in Bitcoin and altcoins Ethereum and Dash, in particular, pushing all three to test or exceed all-time high price points.
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