India’s Cryptocurrency – Lakshmi
India’s Central banking institution, RBI (Reserve Bank of India) recently issued warning about the risks associated with Bitcoin. However, if new reports are to be believed, the Indian government may soon unveil its own cryptocurrency, dubbed “Lakshmi” that will be regulated by none other than the RBI.
According to a report, the center is assessing a proposal to launch the Lakshmi cryptocurrency.An insider source disclosed that a committee of government officials has held discussions about the viability of a government-sponsored cryptocurrency, and have found the idea to be productive.
The prospect of setting up and running blockchain for financial services was deemed to be useful by the panel members. Although, it is not clear when the government will introduce the cryptocurrency to the masses.