World’s popular Bitcoin Wallet BLOCKCHAIN and India’s popular UNOCOIN Bitcoin CryptoCurrency exchange enter into a partnership.
Source: This news found in multiple online sources including Cryptocoinsnews, Coindesk and The Cointelegraph. And in India – major newspapers including Economic Times, TheHindu.
Image of Bitcoin logo along with the Mahatma Gandhi picture serves as the banners image for the news item (In almost all Indian currency notes, the picture of Mahatma Gandhi can be found. In the Hindi movie PK, Amir Khan, an alien has a scene as if goods are bought by giving Mahatma Gandhi picture in any paper!) .
Here are some of the important takeaways as bullet points:
- Blockchain is a technology platform. Here Blockchain is the company name and its websites are blockchain.com blockchain.info Founder and CEO: Peter Smith.Co-Founder and President: Nic Cary
- Unocoin is India’s first entrant into the Bitcoin industry. The company operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept Bitcoin. Website: https://www.unocoin.com/ Co-founder and CEO: Sathvik Vishwanath
- News Report: Nicolas Cary told TheHindu that
‘Post-demonetisation, India became the fastest growing economy to witness a surge in use of digital wallets in daily transactions,
“According to a recent report, 2,500 Indians are investing in Bitcoin daily, which makes India one of the top contenders for becoming the largest market for CryptoCurrency.”
- Often we come across questions like is Bitcoin legal or approved by Government of India or RBI etc.,
In the past, Reserve bank of India – RBI, which regulates Indian rupee, had cautioned users, holders and traders of Virtual Currencies, including Bitcoins. Countries like Japan and Russia move to legalize the use of Bitcoins; in India, regulations are not yet in place. Bu that does not stop Indians from buying, holding, trading and mining Bitcoin or other CryptoCurrencies. See the news below:
- According to data from a Bitcoin trade analyst, Chris Burniske, trades from India accounted for 10 percent of global CryptoCurrency trade in the month May 2017.
- It is not only Unocoin, but there are some other Bitcoin exchanges too operating in India. Some of them are venture capital funded. A mention can be made about ZebPay https://www.zebpay.com/
- We can not assume Blockchain technology is only about Virtual Currency or CyptoCurrencies alone. Blockchain technology is applied in varied industries.
You can know more about Blockchain technology both from technical aspect and business and investment aspect here in Chain Scripts. Just for information, most of the articles that appear here in Chain Scripts are not technical in nature and so do not require IT or Computer or Software skills. And so you can easily grasp them.
Let us end this script by presenting the below quote:
It has become appallingly obvious that our technology has exceeded our humanity. – Scientist Albert Einstein
/Malick, Chain Scripts, Chennai, India.
‘I have no special talent. I am only passionately curious’. -Albert Einstein