Technology has not only fostered innovation in our country but has also enabled the citizens to aspire for financial and digital freedom. Technological developments have led to revolutionary inclusive innovations such as blockchain, with digital assets like Bitcoin and Ether, taking the Indian youth by storm. They offer millennials and zillennials, who are now dabbling in alternative investment options a chance to attain financial freedom.
Bitcoin is built on blockchain and provides unprecedented freedom that accompanies decentralisation. It places the power in the hands of the investors and eliminates barriers around transfers and mobility. Bitcoin and Ether are the biggest and oldest cryptocurrencies backed by sound technologies, and long-term disciplined investment in them can bring great returns and further the agenda of economic independence.
Technology especially became a crucial part of our daily lives in the socially distanced world. Industries all over adopted digitisation at record speeds to cater to the changing consumer needs and to stay relevant.
The recently launched e-RUPI, while not built on blockchain, is a type of digital currency that shares some basic principles with blockchain of eliminating the middlemen to ensure the benefits, reach the beneficiaries seamlessly, digitally and without any leaks, leading to greater financial freedom that, empowers beneficiaries with leak-proof, digital, cashless and streamlined access to benefits without the need for middlemen.
Financial inclusion will foster equitable financial freedom for the vulnerable and marginalised sections of the society, especially women, and are great enablers for balanced growth of the country.