Benson Samuel (@BensonSamuel) blogs on Bitcoin from Bangalore. His latest post introduces his readers to the Bitcoin ecosystem and describes some of the opportunities and challenges for Bitcoin in India, specifically. Excerpts:
Several new exchanges are being setup for India, and it is only a matter of time, before we can have a robust environment supporting Bitcoins in an open marketplace.
Several Indians participate in forums on Tor and have started engaging in open discussions about betterment and open business.
As long as there is prohibition of an item of need or desire, there will remain a Black Market. As long as this continues, Bitcoin will have value and will continue to grow. Bitcoin will replace or become the main currency in lands where modern banking has failed. It will remain a steadfast channel of alternative commerce where the need is.
Inspired Indians have taken up the challenge to reshape the way we have banked for decades.
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