India can pip others in cryptocurrency by adding it to UPI, Aadhaar'

[Goldlife]

A national crypto stack, by adding cryptocurrency to IndiaStack, could potentially solve for oversight risks, while opening India up for billions in investments and yielding "soft power", Coinbase's former CTO Balaji S and ISpirt say.

Mumbai: India can leapfrog the US and China to emerge as the global leader for decentralised finance, if it enables cryptocurrency functionalities on existing public digital platforms including the UPI and Aadhaar, according to concept notes prepared by Balaji Srinivasan, former CTO of global crypto major Coinbase, and Bengaluru-based think tank Ispirt, the creator of IndiaStack.

India could champion an aligned movement, a Decentralised Movement, where countries were economically aligned behind decentralised crypto protocols like Bitcoin and Ethereum that all of them benefit from but none of them control,” Balaji, who is also a former general partner at VC firm Andreessen Horowitz, said.

“The NationStack concept is a long-term vision for India to help every country gradually replace services managed by American and Chinese corporations with locally-operated tech platforms and national digital currencies,” Balaji said, referring to a concept presentation published by the Indian Software Products Industry Round Table (Ispirt) on Saturday.

More info: https://www.google.com/amp/s/m.economictimes.com/tech/tech-bytes/india-can-pip-others-in-crypto-by-adding-it-to-upi-aadhaar/amp_articleshow/82019963.cms

[Papusha20]

It is very good news that India has been added to the cryptocurrency.  Because the more countries add to the cryptocurrency, the better for the cryptocurrency and the cryptocurrency will improve.