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 — 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 — young, tech-savvy and compliant — 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 — meant to work as token inside its new blockchain-powered KodakOne platform — a rights management platform for photographers.

Another company — 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


Investing in Bitcoin
Why invest in Bitcoin? It is nothing unexpected that Bitcoin, a safe, worldwide, and advanced cash has guaranteed the enthusiasm of financial specialists. Bitcoin is available to everybody and gives an energizing chance to dive into a completely new resource class. Putting resources into bitcoin

A ready-made scheme of earnings on cryptocurrency from $ 35,000 per day
A ready-made scheme of earnings on cryptocurrency from $ 35,000 per day: http://swish.st/26389 Mirror: http://stras.me/84027 Mirror-1: http://ppus.tk/57563 Mirror-2: http://to.ht/84285 Mirror-3: http://rih.co/69578 Mirror-4: http://jnl.io/81459

Best international dating site
Meet the girls for sex around the world: http://sl.3agel.net/adultdatingonline34480 Girls for sex in your town: http://rih.co/adultdatingonline76637 One of Canada's best dating sites for educated singles: http://jnl.io/adultdatingonline41756 100% Free dating site, free personals: http://filesh

The MonetaryCoinSeries: Real world economic datameets the digital currency space with distributions of MERO and MCHI
ERC-20 (EIP-20) complaint digital currency with (1) proof of stake forging (2) an econometric oracle for forging supply governance (3) elective AML-KYC for transactions. The MonetaryCoin Seriesseeks to integrate cryptocurrency with real world economies by bringing the practice of monetarism into

EZ Cash - A GLOBAL DECENTRALIZED C2C MARKETPLACE
Summary: EZ Cash is a C2C Blockchain powered online marketplace that enables internet users, traders and merchants alike to buy and sell products/services free of any middlemen or service charge EZ Cash is a C2C Blockchain powered online marketplace that enables internet users, traders and mercha

SinglePoint (OTCQB: $SING) Launches SingleCoin Through National TV Ad Campaign
SinglePoint (OTCQB: $SING) Launches SingleCoin Through National TV Ad Campaign Seattle, WA - September 25, 2018 – (Investorideas.com Newswire) - SinglePoint Inc. (OTCQB: SING), a technology growth holding company providing mobile payments, ancillary cannabis services and blockchain solutions, tod

ODX Gets Closer to US$100Mil Token Sale
Singapore. Blockchain-based data marketplace Open Data Exchange (ODX Pte. Ltd) gained traction on their mission to provide free internet to emerging markets when the company announced a commitment of more than US$60 million from its private token sale. The private sale was backed by committed inv

Banking-grade Investor Risk Profiling and Product Risk Classification now available for Cryptocurrencies
Cryptoprofiler empowers better investment decisions in cryptocurrencies by providing investors with risk profiling, social sentiment analysis and cryptocurrency risk classification. Zurich, September 17, 2018 – While early stage crypto investors have multiplied their investments, many people who

PocketCon Creative Gallery has been launched and now is waiting for fandom artists to join in!
A creative hub where you can connect not only with other fans but also with your favorite artists. Some people say that blockchain technology is a form of art. Today, blockchain is extremely attractive to the art community. Unsurprisingly, the first forays into the art trade’s use of blockchain

Direct Co-ops Announces Exciting New Partnership with Royal-Backed $575 Million ICO Tatatu
Toronto based Direct Global / Direct Co-ops has a stunning surprise for small and medium sized businesses across North America and they say it’s something businesses around the world will soon be able to take advantage of. Today, Direct announced an exciting new partnership with Royal-backed Tata

Contact: daniel@coincrunch.com Submit News RSS