Unless you have been living under a rock, the word blockchain wouldn’t have missed your attention over the past one year. Amongst all the hullaballoo that surrounds blockchain, Bitcoin has stood out most prominently. From the wild swings in Bitcoin prices to the emergence of multiple cryptocurrency wallets, the Bitcoin buzz has taken over the world and India is not behind.
But the emergence of Bitcoin has been bereft of challenges in the fastest-growing economy in the world. The Indian government has refused to accept the presence of Bitcoin and has openly said Bitcoin is “not legal tender”. During the Union Budget 2018-19, India’s Finance Minister Arun Jaitley clarified the government discourages the use of Bitcoin or any other cryptocurrency.
Governments across the world too have dismissed cryptocurrencies. China, which although houses the largest community of Bitcoin miners, has begun a crackdown on cryptocurrency websites citing instability as one of the reasons.
With all the controversy surrounding Bitcoin, the use of blockchain - the technology behind Bitcoins - has been left underexplored. While blockchain and Bitcoin have been synonymous for quite some time now, in reality the two are not quite so.
Full story HERE
Source: Entrepreneur
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