Crypto currency is it the future of banking?
give a brief answer for it ...
Answers
Answer:
In 2018, the RBI had banned banks from conducting transactions related to cryptocurrency. However, in March 2020, the Supreme Court of India lifted the ban, and cryptocurrencies have been operational in India ever since.
Answer:
Future of cryptocurrency
In 2018, the RBI had banned banks from conducting transactions related to cryptocurrency. However, in March 2020, the Supreme Court of India lifted the ban, and cryptocurrencies have been operational in India ever since.
Payments: By establishing a decentralized ledger for payments (e.g. Bitcoin), blockchain technology could facilitate faster payments at lower fees than banks. Clearance and Settlement Systems: Distributed ledgers can reduce operational costs and bring us closer to real-time transactions between financial institutions.
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.
The Cryptocurrency Act of 2020 Is 'Dead on Arrival,' Washington Tells Sponsors. An omnibus bill aimed at comprehensive reform of U.S. cryptocurrency regulation was introduced Monday by Rep. Paul Gosar (R-Ariz.).
Cryptocurrency is a good investment if you want to gain direct exposure to the demand for digital currency and the projects or businesses they facilitate.
u said brief right?