E-Rupee is finally actual adoption of crypto by the government: Vaibhav Gupta of DesiCrypto

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There’s a fair amount of buzz around the RBI’s CBDC: the e-Rupee. Amongst the conversations and takes in the industry is that of Vaibhav Gupta of DesiCrypto, who took to Twitter to label the e-rupee as “actual adoption” of crypto by the Indian government. Gupta ‘vouched’ for the Digital Rupee being the much-anticipated adoption of crypto by the government of India.

The Reserve Bank of India is reportedly launching the Digital Rupee on a pilot basis, and the use of it will be limited to begin with. The RBI has said that their intention behind issuing the concept note is to raise awareness about central bank digital currencies in the country, as well as spreading knowledge about the many planned features of the Digital Rupee.

Gupta has founded and runs DesiCrypto an Indian guerilla marketing agency centred around crypto assets. He is amongst the many thriving entrepreneurs in the current Indian crypto ecosystem. These views therefore can be regarded as some representation of the broader Indian crypto community, diverse as it is.

For now, the RBI will launch the e-Rupee pilot for some specific use cases to test out how well it performs.

Speaking of the concept note, the central bank said this in a recent statement: “It explains the objectives, choices, benefits, and risks of issuing a CBDC in India. The note also seeks to explain Reserve Bank’s approach towards introduction of the CBDC”.