RBI hinted at starting a blockchain system soon

After the ban on cryptocurrency, the government announced to bring its own "digital currency". India's central bank Reserve Bank of India hinted at starting a blockchain system soon. The report, quoting sources, stated that the digital currency system would be pretty much like cash to give firm control to the apex bank. The central bank's private blockchain system will be based on the Unified Payments Interface (UPI) model. A place where public and private sector firms can create their apps. However, the talks are in the initial phase, and a final decision has yet to make it. Also Read: ITI debut healthcare services using blockchain technology Announcement of Crypto Ban February 2021, Reserve Bank of India (RBI) chief Shaktikanta Das stated that the central bank had reservations over c...