Tuesday, 23 May 2017

Why Reserve Bank of India: Taking Time to Accept Bitcoin?

While other countries are accepting bitcoin, India still lacks behind taking the decision. There are several security reasons due to which Indian government is taking a time to examine virtual currency. The best bitcoin exchange in India also took part to make understand and clear the facts related to bitcoin.

The reason of Indian government given below:

  • The bitcoin work on blockchain technology that provides both sender and receiver to check on the fund and track them but central banks can't check on the black money transaction.
  • Hacking of your system, account or bitcoin address.
  • If you face the problem like loss of password, it cannot to tracked again.
  • The virtual currency is highly bullish in nature.
 Still, the RBI has formed a committee with high authority officials from different government sectors to examine the virtual currency and disclose their verdict on a given date. Indian and bitcoin exchange in India hoping for the positive result from the government.As every day, the number of people trading and move forward to buy bitcoin and sell is increasing.

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