If India wants a voice in a world of two clashing superpowers & competing networks for moving money cheaply, it needs to build its own crypto capabilities.
Facebook’s Libra clearly demonstrates a demand for cheaper and faster global payments service. RBI must accelerate its research on payment methods to serve this demand.
There is a chicken-and-egg dilemma with money — it can’t circulate until it circulates. The currency 'airdrop' could be the doorway to several economic solutions.
Given Facebook's failures around privacy, a near-unanimous notion among US lawmakers is that the tech giant shouldn’t be trusted to create a new global currency.
For RBI & other central banks, prospect of being at the mercy of a cabal of tech czars & venture capitalists could seem less predictable, more sinister.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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