Page 28 - Cyber Warnings

With new benefits of virtual currencies like Bitcoin, how is the Indian government speaking to
these innovations? Currently though there are no clear guidelines around virtual currency use in
India, but we hope to see greater clarity in the next year.

The Indian government, however, is taking note of some of the potential benefits blockchain
technology can provide. A Times of India article highlighted the Reserve Bank of India’s (RBI)
further look into the potential strengths and merits of Bitcoin’s underlying technology, the
Blockchain.

The Reserve Bank of India (RBI), highlighted the blockchain’s potential to alleviate current pain
points in traditional payment such as counterfeiting and stated "With its potential to fight
counterfeiting, the 'blockchain' is likely to bring about a major transformation in the functioning of
financial markets, collateral identification (land records for instance) and payments system."

With major pain points of counterfeiting and fraud in India, the RBI sees that blockchain
technology presents some solutions. If you are interested in learning more about developments
of Bitcoin in India, follow @coinsecure on twitter and check out Coinsecure’s trading platform.

About The Author

Elizabeth McCauley serves as Global Business Development Head at
Coinsecure, India’s lead Bitcoin exchange. Elizabeth is the longest serving
member of the Bitcoin Foundation Board of Directors and she also serves
on the Board of Code to Inspire, a newly formed non profit focusing on
digital literacy through digital currency for women in Afghanistan. Prior to
joining Coinsecure, Elizabeth previously handled non profit and political
outreach for BitPay where she focused on bringing charities, political
candidates, non-profits, and educational institutions into the Bitcoin ecosystem. Elizabeth has
also served as Director of Operations and Outreach for Bitcoin Magazine, the first international
print publication dedicated to all things Bitcoin.

Prior to catching the Bitcoin Bug, Elizabeth served on staff for US Member of Congress. She
has a background in public policy, grassroots activism, and a keen desire to promote
decentralization and individual liberties.

Elizabeth is fascinated with Bitcoin and the multiple opportunities for this peer to peer disruptive
technology and movement to empower individuals around the world. Elizabeth can be reached
via email and via twitter @etmccauley and at our company website.

28 Cyber Warnings E-Magazine – April 2016 Edition
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