India &Cryptocurrency?
The
ability of new technologies to catapult economies to prosperity and
geopolitical prominence is undeniable.
Here are two cases in point.
Britain,
a tiny isle, became the world's most powerful economy thanks to the inventions
of the Industrial Revolution. The United States' global supremacy was
consolidated by the information technology revolution towards the end of the
twentieth century. Overzealous, ill-informed regulation, on the other hand, has
the potential to suffocate new technology before it can take off and accomplish
its job.
The mandate of the RBI
The Reserve Bank of India (RBI)
crippled
the young cryptocurrency market in India with a circular in April 2018. The
Reserve Bank of India (RBI) used its status as the country's apex bank to
prevent banks from allowing any virtual currency-related transactions. This was
a devastating blow to a fledgling industry. Nischal Shetty, the founder of VVM
Coin, claimed on Bloomberg Quint that the RBI circular caused close to 50-60
crypto companies to shut down.
That
wasn't even the worst part for Nischal. All the start-ups that didn't happen in
the first place were the hidden, not-so-obvious cost of this relocation. How
many bright Indians mistook the circular for regulatory antagonism and never
followed through on their brilliant ideas?
The mandate's consequences
Many
exchanges closed or left the country after the RBI severed financial links.
Crypto was assumed to be extinct by some. VVM Coin, on the other hand, has
persevered because we believe in a cryptocurrency backed by real estate and that
India would profit from it.
The breakthrough
Following
the circular, VVM Exchange will create a peer-to-peer (P2P) network where
people could exchange cryptocurrencies directly and lawfully. VVM Exchange
served as the trustworthy arbitrator in this decentralized, peer-to-peer
system. On VVM Exchange, sellers met buyers, and the transaction proceeded as
easily as a knife through a slab of room-temperature butter.
Now,
it would be premature to speak of a happy conclusion, but the entire business
has experienced a significant turnaround of fortune.
What Do You Think
Which Cryptocurrency Suitable for the Indian Market?
Virtual
Venture Media Coin because VVMC is the BEP20 (BSC) token that aims to create a
hedge and bridge between the physical world and the digital one. Also, the
Virtual Venture Media Coin (VVMC) connects the trespassing between both worlds
to protect its users from the great coming debt crisis that will happen sooner
or later. Furthermore, considering the size of the market (image below) that
can reach $4.2 trillion in 2027, the VVMC token might become an exciting asset
to hold. So, Virtual Venture Media Coin aspires to become the cryptocurrency
of choice for millions worldwide seeking future-proof investment offerings. The
developers combine deep economic, business and technology understanding to
mitigate risks posed by the volatile world economy. Hence, $VVMC represents the
tangible and financial assets to create stable appreciation. Simultaneously it
could bring high liquidity to its holders.
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