In many ways, the Covid-19 pandemic has accelerated mankind’s journey into the future. The adoption of technology and internet use have skyrocketed in such a manner that it has compressed years of growth into just one. Companies are shedding the fat accumulated from years of ‘business-as-usual’ attitude, and consumers are fast adapting to their new environment.
In a way, the government, too, has shown adaptability in the face of a crisis, and seems prepared to launch itself into the higher echelons of the technology world with the proposed cryptocurrency bill.
While the proposed bill has got a rap for the proposed restrictions on private cryptocurrencies like Bitcoin, Ethereum et al, the other part of it is fascinating — India’s own central bank digital currency (CBDC) project.
