Bitcoin – the state of cryptocurrency in India in 2016 | Yourstory.com

Why India needs Bitcoin?

Given that 60 percent of the population in India is unbanked, Prime Minister Narendra Modi and Reserve Bank of India uphold financial inclusion as top priority. Therefore, India is viewed by many to have significant potential for Bitcoin usage and adoption. The primary ways to obtain Bitcoin are buying on an exchange, mining new ones and accepting them for goods and services.
A financial infrastructure based on Bitcoin and its underlying technology blockchain is likely to herald a revolution like Internet did. The stored currency notes can be stolen easily but one can recover Bitcoin wallet at any point of time by locating wallet words or wallet backup folder. Bitcon was fundamentally created to solve the problem of creating a digital property such a decentralised digital ledger, keeping track of all transactions and retaining the accuracy of the data. Currently, the value of one Bitcoin is Rs 44,700

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