RBI Governor rejects cryptocurrencies, praises blockchain’s role in CBDC trial.
Tokenization is praised for democratizing access to high-value assets, and fostering ownership.
In a recent candid interview with a popular media platform, the Reserve Bank of India (RBI) Governor, Shaktikanta Das made it clear that cryptocurrencies are a firm “no” for the central bank. However, he didn’t shy away from acknowledging the merits of blockchain technology, particularly in the RBI’s Central Bank Digital Currency (CBDC) trial.
“The underlying technology has been there. It will be there. We are using blockchain in our CBDC trial project,” the RBI Governor stated confidently. While praising blockchain’s versatility, he highlighted its necessity for growth. Tokenization, a process he deemed crucial, was noted for democratizing access to high-value assets, allowing the average individual to partake in ownership.
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