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Digital economy

The game-changer digital rupee — a catalyst for financial inclusion and a leash on shady deals

India is looking to adopt a digital rupee. For a country with a chunk of its unbanked population facing problems of cash access and high transaction costs, it is an idea whose time has come. Moreover, a digital rupee can help curb age-old problems like fraud and money laundering, and emerging ones like online financial crime.
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madhavankutty-g
18 Sep 2020 8 Mins Read 0 comment
Concept by Muhabit ul haq
Concept by Muhabit ul haq
The inventor(s) of Bitcoin, known by the pseudonym Satoshi Nakamoto, would be disappointed. Many governments have banned the use of that pioneering cryptocurrency developed in 2009. But simultaneously, they have been exploring the concept of central bank-backed digital currencies (CBDCs). Nakamoto can, therefore, find solace in the fact that he (or they) perfected the technology which continues to power digital
the world’s third-largest economy, a vacuum would be felt without a technologically robust central bank-backed digital currency. A digital rupee, which can be used as a payment mechanism in trade and commercial dealings with strategic partners, will make immense sense when a digital dollar and digital yuan fight it out to establish their pre-eminence. ( Graphics by Sadhana Saxena)
The inventor(s) of Bitcoin, known by the pseudonym Satoshi Nakamoto, would be disappointed. Many governments have banned the use of that pioneering cryptocurrency developed in 2009. But simultaneously, they have been exploring the concept of central bank-backed digital currencies (CBDCs). Nakamoto can, therefore, find solace in the fact that he (or they) perfected the technology which continues to power digital the world’s third-largest economy, a vacuum would be felt without a technologically robust central bank-backed digital currency. A digital rupee, which can be used as a payment mechanism in trade and commercial dealings with strategic partners, will make immense sense when a digital dollar and digital yuan fight it out to establish their pre-eminence. ( Graphics by Sadhana Saxena)

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Message from Planet Labs’ eye in the sky: India is a medieval knight in the age of modern warfare
Space

Message from Planet Labs’ eye in the sky: India is a medieval knight in the age of modern warfare

Satellite pictures of the Galwan valley region shared by US-based Planet Labs exposed China backtracking on the agreement with India to disengage. While the images did help India foster its case in shaping global opinion, it also exposes the country’s unpreparedness in advanced technologies. The episode underlines the urgent need to nurture companies in satellite imaging and space technology.

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