India may launch its own cryptocurrency

“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy. The same strategy is also applied to the technology on which cryptocurrencies are based: “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added. Kamalika Ghosh and Nupur Anand report it on Quartz.
This plan seems to be in tandem with the Reserve Bank of India’s (RBI) proposal made earlier. The central bank has constituted a multi-department panel of its own and has been studying the feasibility of launching government-backed digital coins.