The end of Rs 500 and Rs 1,000 announcement by Narendra Modi has led to rise in digital payments thereby helping India move towards Digital India. In the last few days it has been seen that the difficulties among the people to purchase goods for their livelihood post banning Indian currency notes like Rs.500/- and Rs.1000/-, looks like the nation that comprised of over a billion people have realized the advantage of digital currency.
Looking over the Google Trends page, it seems like “buy Bitcoin” is rapidly gaining popularity coinigy review. Bitcoins are a digital currency, made by computers, whose prices are validated through a public ledger. Like any digital money, this money can be used to pay for goods and services, such as buying coffee, a food packet at a restaurant or even clothes.
Although digital currency is yet to mature, it has the power to play a key role in the future of financial services. As bitcoin and other related technologies grow in adoption, our financial system is going to rely heavily on a large centralized institutions that has a globally distributed network. With the proliferation of the internet, we have witnessed the industries such as media; software and communications were transformed and invigorated. Sooner or later we will experience a similar revolution in financial services, where digital currency permanently substitutes our age old, costly, and time-consuming systems and arises a brand new structure that facilitates payments, streamlines accounting processes, and enforces contracts with ease and scalability. In this fast developing landscape, digital currency can emerge as the valuable trade that empowers the “internet of money.”