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India requires thriving cryptocurrency economy
May 08, 2023
The growth trajectory of cryptocurrency can be attributed to a confluence of factors, including technological innovation, financial speculation, and political activism. As its popularity and influence continue to soar, it is evident that India stands to benefit significantly from the creation of a flourishing cryptocurrency economy that can effectively address some of the most pressing challenges confronting the nation today.
The issue of financial inclusion is a paramount concern that necessitates the establishment of a robust cryptocurrency economy in India. The World Bank’s alarming statistics lay bare the grim reality of financial exclusion in India, with a staggering 190 million individuals deprived of access to formal financial services.
Cryptocurrencies notably have the potential to promote financial inclusion in India by developing a comprehensive financial ecosystem that extends opportunities to those who have been historically marginalized by the conventional banking system. The decentralized and peer-to-peer approach of cryptocurrencies circumvents intermediaries like banks, empowering the unbanked population to engage in financial transactions and participate in the thriving cryptocurrency economy.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/