RBI’s Recent Launch Of A Pilot For Its Digital Rupee Is A First Step Towards CBDC - Sethurathnam Ravi
RBI has recently launched a pilot for its digital rupee and the financial expert Sethurathnam Ravi approaches it as a first step towards CBDC. As per the former BSE Chairman, this is a once in a generation opportunity for India to be a world leader, and the question is whether the RBI will spur innovation or, as with fintech, wait for an inescapable inevitability while the sector lags. Sethurathnam Ravi Blockchain will change the way the world works, highlights Mr. Ravi in his latest article. In the author’s own words, “It has applications across the spectrum – decentralization, provenance, transparency, and security are all features key to processes across a wide array of business domains. The domain it will most emphatically impact though, is financial. It will precipitate reimagination of money in a way as, or probably more, profound as how dematerialization did when Western Union invented wire transfers, or when credit cards changed how we pay”. In the past years, the proliferatio