Shaktikanta Das Crypto
Shaktikanta Das crypto is a new cryptocurrency launched by Indian central banker Shaktikanta Das. It was announced on 11 April 2021 and will be available to the public in May 2021.
Background of Shaktikanta Das Crypto
The Reserve Bank of India (RBI) has long been looking into the possibility of launching its own digital currency, and after several years of research and deliberation, it finally made its decision to launch a cryptocurrency with the name ‘ShaktiKanta-DasCoin’. This coin is named after RBI Governor ShaktiKanta Das who has been instrumental in driving forward this initiative. The aim behind launching this new form of money is to provide an alternative payment system for Indians that would reduce transaction costs, eliminate intermediaries such as banks or credit card companies and increase financial inclusion among citizens.
How Does it Work?
The basic structure behind ShaktiKanta-Dascoin will be similar to other cryptocurrencies like Bitcoin: users can buy coins from exchanges, store them in wallets or use them as payments with merchants accepting them as tender – all without having to rely on third parties or traditional banking systems. As a blockchain-based currency, every transaction regarding these coins will also be stored publicly on a distributed ledger making it transparent and secure at the same time. With no inflationary pressures due to limited supply, holders can expect their coins’ value over time compared against fiat currencies such as USD or EURO because there are only 21 million units ever created under this program – just like Bitcoin’s fixed supply limit too!
What Are Its Advantages?
One advantage that makes SaktiKantai-Daicoin unique compared against other cryptocurrencies out there is that unlike many others which have premine periods where early adopters receive large rewards (e..g free tokens), everyone involved gets equal access right away when the coin launches since each unit carries exactly one share worthiness regardless if they bought during prelaunch phase or not; thus levelling off any potential unfairness amongst participants before getting started! In addition, since transactions occur directly between two people rather than through third party services like PayPal/banks etc., fees associated with sending/receiving money could potentially become much lower than what we currently pay now when doing so internationally across borders – even within India itself! Finally though not least importantly either; security measures put into place here should mean user accounts cannot get hacked easily nor could anyone send unauthorized funds out from another person’s wallet without permission given first!
