PM Modi said Democracies should shape social media, cryptocurrencies
In his location at a virtual ‘Highest point for Democracy’ facilitated by US President Biden. Prime Minister Narendra Modi on Friday said that emerging technologies such as cryptocurrencies should used to empower democracy, not undermine it.
Speaking on the occasion, Mr. Modi said India is the largest democracy in the world which has 2,500-year-old democratic traditions and proposed. To share India‘s democratic experience through digital solutions. “We should likewise together shape worldwide standards for arising advancements like web-based media and digital currencies, so they are utilized to engage majority rules system, not to subvert it,” said Mr. Modi in his Official Intervention. The Summit for Democracy was assembled by President Biden to reinforce popular government all over the planet.
Regardless of the affirmation from the public authority. The traditional press proceeds with manipulation through scare tactics among the overall masses. There have been a few articles dependent on the phrasings of the old draft bill asserting serious disciplines for exchanging crypto. This has been the situation regardless of the Indian government guaranteeing. That the phrasings of the bill are like the past draft because of the parliamentary cycle.
“Democracy is just not about of, by or for the people but also with the people and within the people,” PM Modi said in his speech. The US President on Thursday (local time) kicked off the first-ever Summit for Democracy. Besides PM Modi, as many as 80 world leaders attended the opening remarks virtually.
“THE FUTURE OF MONEY IS DIGITAL CURRENCY.”
The Indian crypto ecosystem is one of the fastest-growing. Ones in the decentralized world, both in terms of development, rising number of unicorns, and crypto investment. India has become a growing hub for prominent VC funds and a series of Indian crypto exchanges have hit unicorn status over the past year. Thus, positive crypto regulation promoting innovation can go a long way for India.