E-rupee seems like a concept born out of crypto FOMO, sustained by regulatory nudges, and still on life support for fintechs wanting to stay relevant in the payments game. Everyone (Regulators, Banks and Fintechs) wants it to become relevant, except the consumers who either don't get it or don't care or as in most cases, both. #erupee #CBDC
Mohit Ranjan
2mo
No Kushal Kothari , primary use case is targeted DBT. Imagine govt giving 1000rs to every women in their account but money is used for liquor? CBDC solves for it, it will have whitelisted use cases and currency can only be used against it (roti/kapda) You should read white paper on this, it’s WIP for years and pilot happened few years back
Varun Vummidi
2mo
Oh absolutely, for the common person how does it even compete with UPI for quick and easy payments and when it doesn't actually work with an existing bank account. The only use case is what stable coins are being used for on web3, which is for staking which = fixed deposits? And as liquid fund? So... In Web2 world what's the use?
The concept of crypto was built on ethos of not having a middleman (bank) to regulate the ledgers, which goes for a toss in case of CBDCs. This is probably why the crypto community is not keen on the likes of E-rupee, and regular consumers just don't find the added advantage of using digital currency.
Give the CBDC white paper a read, and you’ll realise the full extent of the crypto FOMO!!
Prashant Kumar
2mo
Valid point
Jai Thakur
2mo
It's interesting how tech evolves with so many players, but consumer interest often lags behind.
Ajit Terdalkar
2mo
unless you want to use it for fraudulent purposes
Product Management | Driving Innovation @ Jio | ex - Acko
2mo*after the careful research of 20 minutes also thanks for introducing this to me Sometimes adoption can be triggered by creating necessities. Real winner post demonetisation was BHIM. As a curious person I would just open one wallet to see the experience atleast. Honestly I’m impressed! Is it sad to say that I never expected this from Indian govt. I can however imagine Niramala didi “I can print money that we don’t have” 🤩