Description
TL;DR: A policy-oriented paper on how India might design and introduce a CBDC using blockchain or hashgraph, different consensus models, and market indicators.
About This Document
Shivam Tripathi, Ashutosh Chaubey, and Ishanki Goel introduce CBDCs against the growth of Bitcoin, altcoins, and stablecoins. They discuss blockchain versus hashgraph, proof of work, proof of stake, asynchronous Byzantine fault tolerance, financial inclusion, monetary policy, and possible transaction monitoring. The authors also suggest using sentiment and uncertainty indexes when considering launch timing and propose routing cryptocurrency purchases through an RBI-issued digital currency.
Why Bitcoin People May Care
A CBDC is centralized sovereign money even when it borrows vocabulary or infrastructure from cryptocurrency. This paper is useful for seeing which Bitcoin-era ideas Indian researchers were carrying into a state-currency proposal in 2022. Its recommendations are the authors' proposals, not a record of what India ultimately adopted or current RBI policy.
What You Receive
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Document Details
- Title: Potential CBDC Adoption by the Indian Government and Its Implications
- Author / organization: Shivam Tripathi, Ashutosh Chaubey, and Ishanki Goel
- Year: 2022
- Language: English
- Document type: Policy research paper
- Pages: 7
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