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Should India embrace cryptocurrencies?

Video credit: BBC World News - Affiliate
Published on August 14, 2019 - Duration: 08:09s

Should India embrace cryptocurrencies?

Some believe that believe cryptocurrencies are the new digital gold.

From Bitcoin to Ethereum, there are over 2,000 kinds of cryptocurrencies globally, worth over $300bn in digital money.

And now Facebook is planning to join the bandwagon with Libra, its own digital currency.

But many are wary of cryptocurrencies and the risks associated with them.

There are concerns about scams, fraud and user privacy.

Countries like India have put restrictions in place on the trade of cryptocurrencies.

Now, a new government committee in India has recommended a complete ban, including holding and investing in them.

In this edition of WorklifeIndia, we speak to a young professional who works at a cryptocurrency exchange, the policy head at India's leading association of software companies, and a lawyer specialising in technology and privacy.

We ask them whether India should ban cryptocurrencies, or embrace them instead as the future of money.

Presenter: Devina Gupta Contributors: Priyanka Sharma, Chief of Staff, WazirX cryptocurrency exchange; Ashish Aggarwal, Sr Director & Public Policy Head, NASSCOM; Akriti Gaur, tech lawyer and senior fellow, Vidhi Centre for Legal Policy

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