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Breaking Down Cryptocurrency: Perspectives On Future Of Blockchain And Digital Finance In India

Sayani ChakrabortySeptember 23, 20220

As the Internet of Things (IoT), artificial intelligence (AI), genetic engineering, and other technologies continue to develop, India is on the threshold of a historically momentous era. New methods of doing business, making payments, and increasing productivity are emerging at a breakneck pace because of this accelerating pace of innovation across all sectors. In the driver's seat lies the crucial Blockchain technology, which is frequently confused with digital currency. In other words, we need to separate technology from its applications. Indeed, digital money is one of the early use of blockchain technology. IBM describes blockchain technology as "a shared, unchangeable ledger that supports the process of recording transactions and monitoring assets in a corporate network." Real ...

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Rising Popularity Of Cryptocurrency And Plight Of Business Schools

Sayani ChakrabortyAugust 22, 20220

There has been a tremendous increase in the value of cryptocurrencies over the last few years, and the market size of cryptocurrency is projected to expand to more than $1080 million by 2026. Since then, this innovation has skyrocketed and gained widespread interest. To date (2021), 97% of global tyre users have indicated trust in and optimism about the digital asset. As recently as a few years ago, even business schools showed little enthusiasm for incorporating cryptocurrency education into their curricula. They didn't think it was real and assumed the technology will go away soon. Despite the doubts, cryptocurrency study is being included in MBA programmes. Since 2013, the market for cryptocurrencies has grown by more than 90%, and there are now more than 4000 different kinds of cryp...

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Crypto Tax First Step To Legalize Digital Currency In India: Details Inside

Sonia SolankiFebruary 2, 20220

Crypto tax or digital assets will be taxed at 30%, as announced by Union finance minister Nirmala Sitharaman. This will be the highest tax band in the country. "I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition," Sitharaman said. She also said that currency lies with RBI only, other than that is a crypto asset and will see 30% tax. Cryptocurrencies will be treated as digital assets. U-turn On Banning Cryptocurrency At the end of last year, there were strong rumours that the Indian government is planning to ban all cryptocurrencies. But presenting a digital asset tax of 30% s...

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Union Budget 2022: FM Sitharaman Announces Digital Rupee; Know More About Virtual Currency

Snehashish RoyFebruary 1, 20220

The Union finance minister Nirmala Sitharaman has launched the Digital Rupee in her budgetary speech in the Parliament on February 1. This rupee, the Central Bank Digital Currency (CBDC) will be used from 2022-22 onwards. During her fourth budgetary speech, Sitharaman said the use of digital currency will give a boost to the country's economy. The currency will be introduced by the Reserve Bank of India (RBI). This move will give a further push to the Centre's Digital India initiative. "The introduction of central bank digital currency will give a big boost to the digital economy. Digital currency will also be a cheaper and more efficient currency management system...It is therefore proposed to introduce digital rupee - using blockchain and other technologies - to be issued by ...

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Cryptocurrency May Be Recognized In The General Budget To Be Presented In February!

Gunjan ChaudharyNovember 2, 20210

There is news of relief for those who want to invest in cryptocurrency or have invested in this currency. According to sources, the Indian government is not planning to ban cryptocurrencies anymore. According to a Business Today report, even bringing this currency under the legal framework is likely to be discussed in the upcoming budget in the month of February itself. The Indian government is preparing to regulate cryptocurrencies in the budget to be presented in February. The report quoted Finance Ministry officials as saying that legislation covering cryptocurrencies could be discussed in the upcoming budget to make the cryptocurrency a legal tender now. Finance Ministry discussing the law The report says that the finance ministry officials are discussing laws to regulat...

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