T Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), took an anti-crypto stance, comparing blockchain to his own payment systems.
RBI Vice-President Sankar met with the International Monetary Fund (IMF). In his meeting, Sankar said that India’s peer-to-peer (P2P) payment He stated that the UPI system, which is his system, was successful.
Central bank vice president:
Blockchain, which was launched 6-8 months before UPI started, is still referred to as a revolutionary technology. Blockchain was not as fast as initially predicted.
made statements.
This is why Sankar said that a large part of India does not have a smartphone. Unable to access UPI-based banking told. In order to resolve the situation, the government of Indiaoffline payment platform It says trying to install
“A currency to the issuer or to a real value needs. Cryptocurrencies have neither.” According to Sankar, who gave his statements technology is just a tool can be used as currency, not currency.
Saying that CBDCs can kill private cryptocurrencies, the RBI official stated that stablecoins like Tether should not be considered fiat money.