{"id":394,"date":"2018-01-17T08:53:37","date_gmt":"2018-01-17T08:53:37","guid":{"rendered":"https:\/\/blockchain-society.science\/?p=394"},"modified":"2018-01-17T08:53:37","modified_gmt":"2018-01-17T08:53:37","slug":"virtual-currencies-a-hazard-or-a-boon-a-perspective-from-the-digital-finance-ecosystem-and-associated-legal-issues-by-nakul-sharma-rahul-vyas-ssrn","status":"publish","type":"post","link":"https:\/\/blockchain-society.science\/?p=394","title":{"rendered":"Virtual Currencies: A Hazard or a Boon? A Perspective from the Digital Finance Ecosystem and Associated Legal Issues by Nakul Sharma, Rahul Vyas :: SSRN"},"content":{"rendered":"<blockquote>\n<div class=\"reference-info\">\n<p>National Journal of Multidisciplinary Research and Development, Volume 2, Issue 3, September 2017<\/p>\n<\/div>\n<p class=\"note note-list\">7 Pages\u00a0Posted: 30 Nov 2017\u00a0Last revised: 6 Dec 2017<\/p>\n<div class=\"authors\">\n<h2><a title=\"View other papers by this author\" href=\"https:\/\/papers.ssrn.com\/sol3\/cf_dev\/AbsByAuth.cfm?per_id=2852563\" target=\"_blank\" rel=\"noopener\">Nakul Sharma<\/a><\/h2>\n<p>Pacific University (India), Students<\/p>\n<h2><a title=\"View other papers by this author\" href=\"https:\/\/papers.ssrn.com\/sol3\/cf_dev\/AbsByAuth.cfm?per_id=1957180\" target=\"_blank\" rel=\"noopener\">Rahul Vyas<\/a><\/h2>\n<p>Pacific University (India)<\/p>\n<\/div>\n<p>Date Written: September 12, 2017<\/p>\n<div class=\"abstract-text\">\n<h3>Abstract<\/h3>\n<p>Digital India is a flagship program of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. \u201cFaceless, Paperless, Cashless\u201d is one of professed role of Digital India. As part of promoting cashless transactions and converting India into less-cash society, various modes of digital payments have been put out.<\/p>\n<p>Financial market regulators and central banks around the world regularly warn consumers about the risks related to virtual currencies. The Institute for Development &amp; Research in Banking Technology (IDRBT), the research arm of RBI had published a report in which it stated that the time had come to adopt the blockchain technology in India, in the bid to evolve towards a cashless society.<br \/>\nAs regards non-fiat crypto currencies, the RBI is not comfortable; the intrinsic value of the VC seems to be a matter of speculation, moreover the legal status is definitely missing, finally, the usage of VCs for illicit and illegal activities in the dark net has been reported to be hitting the roof across the world. The present paper takes into perspective the rapidly evolving Technology of the Digital Virtual Currency landscape from the Indian standpoint and the related Legal Conundrum.<\/p>\n<\/div>\n<\/blockquote>\n<p>Source: <em><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3077829\">Virtual Currencies: A Hazard or a Boon? A Perspective from the Digital Finance Ecosystem and Associated Legal Issues by Nakul Sharma, Rahul Vyas :: SSRN<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Journal of Multidisciplinary Research and Development, Volume 2, Issue 3, September 2017 7 Pages\u00a0Posted: 30 Nov 2017\u00a0Last revised: 6 Dec 2017 Nakul Sharma Pacific University (India), Students Rahul Vyas Pacific University (India) Date Written: September 12, 2017 Abstract Digital India is a flagship program of the Government of India with a vision to transform [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[27,22,26,13,5],"tags":[],"_links":{"self":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/394"}],"collection":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=394"}],"version-history":[{"count":1,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/394\/revisions"}],"predecessor-version":[{"id":395,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/394\/revisions\/395"}],"wp:attachment":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}