Submit News All Crypto News

Rise of Cryptocurrencies in India?

Category: General

History is debatable but it is believed that more than 2500 years ago, the first coins were introduced and about 1400 years back, the Chinese were the first to use paper bills (mostly in the form of privately issued bills of credit or exchange notes). Some of the early forms of ancient coins were minted by merchants as tokens for use in trade transactions. Although it may have taken centuries for coins and paper notes to establish its roots across the world its commercial utility was so impactful that even today our interpretation of money heavily relies on it.

Fast-forward to the 21st century and what we are staring at is cryptocurrencies and with much enthusiasm, at the technology behind it Ч the blockchain technology. This article is only an attempt to understand some of the probable reasons behind the growing popularity of cryptocurrencies in India and to highlight the emerging recognition of blockchain technology.

Information Input Sources: (1), (2)
https://www.ancient.eu/coinage/
http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914593,00.html

Global attention and novelty

In the last few years, the concept of cryptocurrencies has garnered significant global attention something that India has been closely watching.

It may not be very hard to believe that such a period of observation might have served as a head start for many fintech enthusiasts in India. The novelty factor further sustained the interest and curiosity in cryptocurrencies.

Anticipation of returns

Anticipating profitable returns from an investment is the natural tendency of an investor. The mind-boggling surges in the prices of some of the most popular cryptocurrencies over a very short period of time may have appeared to be very luring from a returns perspective but

the high prices of these popular cryptocurrencies also make them unaffordable to the small investors and one of the probable outcome of which is that it could drive these small investors to explore other cryptocurrencies with the anticipation of similar levels of returns as with the popular cryptocurrencies.

However, return on investment is only one of the many factors for evaluating and examining an investment option. Other factors like exercising prudence and assessing the prospects of a project for which investment is sought are also very important.

Profile of the small trader

Another factor for the buoyancy in cryptocurrency trading in India could be the profile of the small trader Ч young, tech-savvy and compliant Ч a phenomenon emanating from favourable demographics.

Information Input Sources: (3)
http://www.livemint.com/Politics/KaHvtCHGC79rc8UgkrEEUP/Cryptocurrency-trades-in-India-show-no-sign-of-slowing-despi.html

Emerging recognition of blockchain technology?

According to a media report, Reliance Jio Infocomm Ltd is mulling to create its own cryptocurrency, JioCoin and is also planning to build a team of young professionals to work on blockchain technology.

Kodak is also planning to come up with its own cryptocurrency called the KodakCoin Ч meant to work as token inside its new blockchain-powered KodakOne platform Ч a rights management platform for photographers.

Another company Ч Obizcoin is planning to deliver its proven solutions through BOT. OBIZCOIN is developing a Smart Business Process Automation BOT based on Artificial Intelligence and Blockchain Technology.

Information Input Sources: (4), (5), (6), (7)
http://www.livemint.com/Companies/AzdrYmQhYnq0TPiDUbZcSO/Reliance-Jio-planning-its-own-cryptocurrency-called-JioCoin.html
https://www.thesun.co.uk/money/5308714/kodakcoin-cryptocurrency-price-how-to-buy-eastman-kodak/
https://www.theverge.com/2018/1/9/16869998/kodak-kodakcoin-blockchain-platform-ethereum-ledger-stock-price
https://www.obizcoin.io/

Disclaimer: The above content/article is intended only to provide a general overview and is not to be used as a basis for the exercise of any business, professional or investment judgment/action.

Author: Varun Shah
Source from: http://www.cryptoicoalert.com/rise-of-cryptocurrencies-in-india/


Contact
CryptoICO
Share on Facebook Share on Twitter Share on Whatsapp Share on Reddit


Cryptocoin News RSS


Pieta PRE SALE Is Running Successfully: Thanks For Joining Pieta Ecosystem
PietaТs pre-sale event which started around 3 months back is now in its final stage. We would like to take this opportunity to thank all the investors who became a part of the Pieta Ecosystem during this period. And those, who still havenТt joined us, can do so now and avail the benefit of bonus tok

-познакомитьс€ сим userid=
http://loveawake.ru/ - «накомства West Orange. —айт знакомств West Orange бесплатно, без регистрации, дл€ серьезных отношений.

Pieta Pre ICO III Phase Is Live: Last Chance To Join Pieta Ecosystem
The Pieta team is glad to announce that the third phase of its pre-sale is live now. For a limited time period, investors can get a flat 40% bonus on all their token purchases during the pre-sale. Also, the Pieta token is being offered at an exclusive rate of $0.75 per token only for the pre-sale pe

Imaginable partners be experiencing all kinds of varied preferences
The usual grown-up, become rigid biting penis is between five and seven inches long. Some are smaller; some are bigger. Smaller flaccid penises be blameworthy to mature tili.bareblog.se/leve-sammen/maend-og-barsel.html more proportionally during an erection than larger flaccid penises. And some peni

All You Need To Know About Pieta Platform | Technology Overview
Pieta is the worldТs first blockchain project that aims to bring down the high cost of crypto mining in order to make it more accessible and environment-friendly. To achieve this aim, Pieta uses solar energy, unlike conventional energy resources, i.e., electricity, to bring down the high costs of mi

Pieta Pre ICO III Sale is On with additional bonus of 40% tokens for early birds
Pieta, one of the most anticipated tokens of the year as in terms of popularity and profitability, brought an undeniable opportunity to yield high profits. Pieta has released a total of 400,000 tokens on sale in the Pieta Pre ICO III Sale with a bonus of extra 40% (160,000) tokens to all the early i

«накомства на Loveawake.Ru
«накомства на Loveawake.Ru https://loveawake.ru - Click here!..

Pieta Introduces Bounty program - Giving Away 180000 PITC Tokens
Pieta is glad to officially announce its bounty program, under which the team will be giving away 180,000 Pieta tokens for free to the participants of the campaign. The bounty program is already live now. HereТs all you need to know about it. What is Pieta Bounty Program? It is a giveaway prog

Pieta Pre ICO III Sale is Live With Discounted Price of $0.75 Per Token
Pieta, the project which started with a futuristic aim of making crypto mining more affordable and eco-friendly, has now become one of the most popular projects of the year. And why not? It is probably the first project which has been successful in finding a truly economical and eco-friendly energy

viagra tablets
I read this post fully on the topic of the difference of hottest and earlier technologies, it's remarkable article.

Contact: daniel@coincrunch.com Submit News RSS