How Demonetization Is Affecting India’s Citizens

Bitcoin.com (BC): As an ordinary Indian, what effect has the demonetization had on you so far?

Sameera Pandilakshmi

Sameera Panddilakshmi (SP): In actuality, demonetization has had a negative effect on the way I carry out my daily actions. With exchanging the rupee notes at banks which is highly 19, I had to start. Changes in the rules regarding the demonetization process on a regular basis by the Government of India causes discomfort as you had to keep up with the deadlinesbitcoin purchase casino instant use bitcoin for ignition casino I don’t know what the government is trying to accomplish. New rule every 3 days and bitcoin casino no deposit bonus code. People have everywhere to feelings that are bitter. There’s a sense of urgency attached to even simple chores like shopping in a supermarket store/supermarket, paying electricity bills, filling up the tank, etc..

BC: Do you think many Indians are for demonetization?

SP: Initially, the vast majority of Indians welcomed the demonetization move. They considered that it would wipe out the financing of terrorism, hoarding of black money and corruption. As days passed by, the effects of the demonetization procedure made Indians question the effectiveness of the move. More than 80 people have lost their lives due to different reasons ranging to being denied treatments from standing at banks for long hours.

BC: From the perspective is a cashless society possible in India?

SP: The complete transformation of India into a cashless society is a possibility, though it can’t happen overnight. The transition will be more easy for India compared to rural India due to integration of the banking system in urban areasbitcoin casinos reviews review bitcoin casinos reviews EWallets like PayTm, Freecharge, Ola Unified and Money Payment transactions that are electronic are facilitated by Interface software .

It is imperative to remember that more than 80 percent of the Indian population resides in rural areas and the government has been working on various schemes that aim financial inclusion.

Welfare schemes like National Mission for Financial Inclusion, Pradhan Mantri Jeevan Jyoti Bima Yojana  (Scheme for Life Insurance),  Pradhan Mantri Suraksha Bima Yojana (Scheme for Accidental Death Insurance) have encouraged rural Indians to come forward and participate in banking operations.

RuPay Card Scheme launched by National Payments Corporation of India (NPCI) has proved to be a starting point for electronic transactions among rural individuals. It is imperative for the authorities to inspect and improvise payment initiatives on a regular basis to ensure that a smooth transition is to a cashless economy.  

‘Learning the Technicalities of Bitcoin’

BC: Have you heard about bitcoin, and do you think it’s the remedy for your present situation?

SP: Yes. I’ve heard about bitcoin. I am learning the technicalities of the bitcoin system. Though bitcoins may not function as a remedy for the demonetization process immediately, I’m looking forward to using them shortly. I’m comfortable with digital transactions for the time being.

BC: How does the situation make you feel about government and rulers?

The demonetization procedure has caused a great deal of inconvenience. The right to trade and the right to life was affected during the first days of the demonetization procedure. The government might have done better as far as planning, and execution of the demonetization move is concerned. I am excited about the positive results the demonetization move is to yield.

What do you think about India’s demonetization policy? Share your views in the comments below.

Pictures courtesy of Sameera Pandilakshmi

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Purse Merchants:’More Products Than Any Other Marketplace in the World’

Purse Merchants is a decentralized market allowing anyone to utilize the platform. The market provides an escrow system which enables users to transact securely with a third party are completed. Now although purse says that escrow transactions were reserved for the real estate business as a result of their Purse Merchant’s platform that the system may be used by anyoneonline casino canada bitcoin best us bitcoin casino told Bitcoin.com|Bitcoin.com was told by lee}:

With the launching of Merchants, Purse has more products available than any other marketplace in the world — more than Amazon, eBay or Alibaba (over 250 million SKUs available). Bitcoiners can buy or sell virtually anything at unbeatable rates and bitcoin casino gambling platform supplier .

Furthermore, the service says it offers the lowest possible fees when compared to marketplaces like Etsy (3.5%), eBay (10%) and Amazon (8-20%). Furthermore, Purse explains using Bitcoin provides a 24/7 system that never closes to them, and chargebacks can be a thing of the past. Another aspect that is different is merchants are also enabled to market to shoppers, and the stage provides many different ways to sell products which are protected by the Purse escrow system that is secure.

Andrew Lee, CEO Purse.io

Anything can be sold on the platform and Bitcoin fans will find merchants like Trezor and Ledger accessible. Another company which could be found on the market is Windcatcher, which appeared on the television show Shark Tank. The inflatable tech maker wound up winning a deal. Purse explained that popular items like these are available throughout the marketplace every daycasino that takes bitcoin bitcoin high limit casino games Purse is also enabling a solution for merchants to launch pre-orders with the platform’s”pre-order marketplace.”

‘World’s Largest Marketplace for Bitcoin’

People looking to sign up can register and may also use Coinbase credentials or their Facebook to log in too. The Purse team is thrilled with the launching of this Merchants platform and would like to be the”world’s largest market for Bitcoin.” Last year Lee told Bitcoin.com that Purse Merchants are something between eBay and OpenBazaar on the decentralization scale. The San Francisco-based company says unlike eBay, Etsy, or Alibaba, this market won’t require banking credentials to buy and sell items.

Purse is offering a 30 day trial of the company’s premium service, and no credit cards are needed to sign up. The business states they present the ability for users to promote their products to over”100,000 early adopters” and they say that’s only the start.

Bitcoin.com will keep an eye out on the growth and development of this marketplace and keep you up to date.   

Will you be using Purse Merchants? Tell us in the comments below!

Pictures courtesy of Purse.io

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Ignoring Innovation & Disruption

Regardless of the banking system that is conventional threatening, established institutions turn a blind eye to the disruption they’re faced with. According to a recent Finextra article, those dividers come on when individuals become decision makers in banking.

Generation X seems to be dominant everywhere we look when looking at the average board members of a financial institution777Coin site These individuals make up the pre-disruption generation who does not like change. Moreover, since things have been going well for multiple decades, there is no point in changing a winning formula and bitcoin casino no deposit bonus 2015.

Challenger banks are often touted as those to disrupt banking, but that might not be the case. Rather they’re lured in by the allure of business models that were tamer. In actuality, there is a fantastic chance a portion of challenger banks will end up a different”flavor” of conventional banking, despite trying to sound disruptive to the external world.

Bankers Lie At Every Turn

Bankers have a strong tendency to lie, or turn words. Than they need to admit, financial institutions are concerned with individual customersfree bonus no deposit bitcoin casino bitcoin live casino usa Independent Digital Banking Consultant Duena Blomstrom told the world, and witnessed the situation first hand:

When we say we are building disruptive new versions that will integrate money into bigger digital contexts, but we do not have the backend technology to even begin to comprehend the information, we lie. When we understand as a human, that our needs are nowhere near to fulfilled in our interaction but we spend no time seriously analyzing those feelings and needs but say we do, we lie.

That statement appears to hold a lot of merit where blockchain technology in the financial sector is concerned. Banks are exploring technology that is Bitcoin to seem disruptive. But very few of time recognize how the technology works or what it needs to yield results. Developing a blockchain will not have any impact whatsoever, and it is nothing more than another lie.

It is necessary for bankers and consumers to bear in mind the status quo won’t hold forever. Change is coming, not or whether bankers enjoy it. Consumers are directing these modifications, and programmers are currently creating the technology to accommodate these needs. The open standard, such as the Bitcoin blockchain, has become the standard.

What are your thoughts on these revelations in the world of bankers? Tell us in the comments below!

Source: Finextra

Images courtesy of Shutterstock, Business 2 Community

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Large Insurers Getting into Crypto

While most big-name carriers are reluctant to give coverage some quietly entering the space and are slowly coming around. Two leading insurance agents that help companies shop for crypto policies were quoted by Bloomberg on Thursday:

Business has been brisk this year.

Marsh has formed a dedicated team to service blockchain startups while Aon says it’s”seen some insurers tweak overall business policies to include crypto-specific protections,” the publication detailed, adding that Aon also claims to have over 50 percent of the crypto insurance market.

According to the provider’s website,”Aon has been working to understand these evolving technologies and actively collaborates with the insurance marketplace to develop innovative risk transfer solutionsBest best paying bitcoin casino Its subsidiary, Aon Risk Solutions, has”developed a policy form to protect against the loss of cryptocurrency in addition to other initiatives designed to meet the emerging risks posed by cryptocurrencies and digital ledger technologies,” Business Insurance magazine clarified and best bitcoin casino sites.

Big Opportunities

Allianz SE, asset manager and european insurer, has 88 million retail and corporate clients in more than 70 countries. The Munich-based company”began offering individual coverage for digital-coin theft in the past year,” the book conveyed and quoted the Organization’s spokesman, Christian Weishuber, saying:

Insurance for cryptocurrency storage is going to be a big opportunity…Digital assets are becoming more important, important and prevalent on the actual economy and we’re exploring product and coverage options in this area.

American International Group (AIG)”has also been adding crypto coverage into standard policy forms” and has”met with cryptocurrency custodians and trading platforms about coverage,” the news outlet detailed and quoted a source familiar with the matter:

Within a dozen underwriters, including XL and Chubb offer coverage.

In February, Reuters reported that Chubb XL Catlin, and Mitsui Sumitomo Insurance companies started offering protection.

Costly Premiums

Crypto businesses are increasingly seeking to acquire insurance policy to help attract more customersbitcoin casino us players no deposit bonus codes for bitcoin casinos us players A London-based startup focused Trustology, on custody services, is just one of the businesses in talks. The business wants to insure its customer accounts for up to #85,000 (~US$111,630), that’s the same standard as a U.K. bank accounts.

However, insurance premiums for crypto-related policy are costly and policies can take months to get accepted, the publication hauled, adding that”exclusions may accumulate fast.” For example, while reductions from an interruption of service could be coated, cryptocurrency that caused the interruption’s theft may not.

Citing that many startups cannot afford to pay the high premiums, the information outlet elaborated:

The premiums from insuring such risk can be substantial. Underwriters can bill a company upwards of five times or more than your average business for coverage against theft or loss.

Do you believe shortly all big-name insurance companies will soon get into crypto? Let us know in the comments section below.

Pictures courtesy of Shutterstock, Allianz, and Aon.

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Fiat Credit Can’t Cut It

International students, from developing nations in particular, who study in the US face difficulties for them to afford basic living expenses, which is too vital.

That’s based on co-founder of SelfScore, an Indian student and Kalpesh Kapadia. SelfScore is a startup that uses”a different set of acceptance metrics” to give credit cards to people who would otherwise be denied them because of various US requirements.

“I went to open a bank account for [my cousin] and get a social security number, and I found it was impossible for her to get an SS number on day one,” Kapadia explains in an interview with Tech In Asia. “You should have a job.”

Security: the absence of a credit report or not only a project caused them to pay double the deposit on an apartment, a $500 USD deposit on a smartphone and be refused the essential tool in the US — a vehiclebitcoinpenguin rating now|SelfScore} handles negotiations and audits while using common sense standards to give pupils|SelfScore manages audits and negotiations while using common sense standards to give pupils the money they need|While using common sense standards to give students selfScore now manages negotiations and audits with credit institutions|While using common sense criteria to give students the money they need selfScore now handles audits and negotiations with credit institutions}.

If a student has the money to study in the first place, the Kapadia reasons in the US, they should surely make reliable credit candidates.

Bitcoin: Solution in Waiting

While the traditional hurdles of the legacy financial system are shown up as absurd by the international student example, the situation even for SelfScore’s 5000 applicants is still precarious and bitcoin mining vs casino.

Specifically, the problem begins when funds are in a different country — but remittance providers and bitcoin debit cards are already more than capable of supplying an all-in-one solution.

Why tangle with fiat alternatives in any respect, when even SelfScore requires personal information and”public information from the students gathered by the US Department of Homeland Security”?

Bitcoin can be sent from anywhere to anywhere. A debit card that is bitcoin can be purchased by A student in the usa with no kind of financial buoyancy checks.

If a student had no access to funds a meetup in person to exchange cash for BTC through LocalBitcoins would fix this liquidity issue.

Together with all the cards the need for emergency cash is catered for thanks to Bitcoin loans startups that are peer-to-peer, such as Credible and BTCJam Friends, which are currently becoming more prevalent in 2016.

With such a number of card options available a person’s state of residence, even the downsides such as fees can be mitigatedcasino bitcoin casino review gtbetseu bitcoin casino 1344×689 do you consider Bitcoin’s capacity to help students become more independent abroad? Have you ever had experience of it yourself? Tell us your thoughts in the comments below.

Pictures courtesy of Shutterstock, The Nation.

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