Invalid Demonetisation
-tuner_desk
After a year, it's happy to see all the readers of daily tuner. But honestly, I feel quite unhappy, not because of personal issues. Just because of Cryptographic currency.
In India, Currency is always a problem, especially before three months, when PM Modi announced Demonetisation of 1000 and 500 notes. Though it had motive of killing black money.
Unfortunately, it boosted the growth of black money in another way through online money. And it's not about digital transaction through bank gateways. It's all about illegal transactions through Cryptographic currencies.
Though in India, penetration of Cryptographic currency is not as high as in other countries. But demonetisation in India is also a reason for growth of Cryptographic currency.
And to be bold, Bitcoin- one of the Cryptographic or web based currency has created a history in this new year. Because, This year alone, the value of bitcoin increased for $400 to $1029.33 with a short duration.
Who prefers and what is the use behind this web-based currency?
Honestly speaking, this currency is mostly preferred and being used by cybercriminals and some non-tax payers. One of the major hacking news portal reported that, 'the value of Bitcoin may have been boosted in the past year by increased demand in China on the back of a 7 percent annual drop in the value of the yuan in 2016, which is the Chinese currency's weakest annual performance in over 20 years.- as Market watchers found.'
And according to Reuters, 'Most of the online trading in China was done using bitcoin and more than 5 million bitcoin transactions are made within 24 hours....'
By this time, Introduction of BHIM App- an Unified Payment Interface by Indian government to drive India towards Cashless economy brings a little calm.
