India's Consideration of Global Collaborations and Best Practices on Cryptocurrency Reassuring for Crypto: Raj Chowdhury

PALO ALTO, Calif., Feb. 11, 2022 /PRNewswire-PRWeb/ -- Blockchain pioneer and PayBito Chief Raj Chowdhury discussed how the Indian government's recent policies towards blockchain incorporation and crypto trading will contribute to worldwide crypto development.

The world's second most populated nation recently gave a green signal to crypto trading during its budget presentation for FY 22-23. Placing cryptocurrencies under the category of digital assets, the government levied 30% taxation on trading gains. The country's central bank, RBI also declared the launch of its own CBDC. Built using blockchain architecture, the Digital Rupee will be released within 2022-23.

A notable blockchain proponent, Chowdhury puts the spotlight on India's present stance, stating, "As a nation, India has the largest number of crypto asset-owners all over the globe. The measured approach reflects the government's attempts to prioritize the best interests of its citizens while opening its arms to newer possibilities through blockchain and cryptocurrencies."

The nation ranked second in terms of the Global Crypto Adoption Index for 2021. One of the largest global economies, India is looking to keep its growth pace unhindered with extensive blockchain implementation starting with the construction of a National Blockchain Framework. The current announcement opens doors for startups, enterprises, and entrepreneurs to leverage growth and seize business opportunities through cryptocurrencies.

"The recent highs in the global crypto markets will be seen as milestones surpassed in the near future. Upcoming blockchain-powered innovations will further raise the significance of cryptocurrencies," mentioned Chowdhury, who had previously voiced his opinions on India's national blockchain strategies, Metaverse and DAOs.

Chowdhury went on to elaborate memorable events from his personal journey, starting with the inception of his blockchain development start-up HashCash Consultants and subsequently PayBito, an international crypto-exchange.

The US-based exchange offers crypto exchange architecture for businesses and enterprises looking forward to adding crypto-trading services to their business portfolio. Additional crypto-based solutions include crypto banking with options for crypto-collateralized lending, crypto wallet storage, and many more.

Recent developments put India at the forefront as a promising region for crypto development. Enterprises planning on investing in crypto development will look towards India as a hotspot with great market potential and significant ROI.

• About Raj Chowdhury:

Raj Chowdhury is the Managing Director of HashCash Consultants and PayBito, a global crypto exchange. Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to Economic Times, Business World, CNNMoney and advises industry leaders in the adoption of Blockchain. Author of the book 'The Dark Secret of the Silicon Valley', Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.

Media Contact

COLEEN F, Hashcash Digest, +14159662907, [email protected]

SOURCE Hashcash Digest