Bitcoin wallet provider Blockchain enters India via Unocoin tie-up
New York-based Bitcoin wallet provider and software developer Blockchain will now enter the Indian market via a strategic partnership with Bengaluru-based crypto-currency exchange Unocoin. Blockchain, which plans on bringing its software platform to India, claims that their product gives the users a seamless experience when it comes to Bitcoin transactions by reducing hiccups between the end user and the exchanges. Here's more about it.
What is a bitcoin?
Invented by an unknown programmer(s) under the name Satoshi Nakamoto, bitcoin is a cryptocurrency and a digital payments system introduced first in 2009. It's a peer-to-peer system where transactions take place without any intermediary. Transactions are recorded in an unalterable publicly distributed legder called blockchain.
What does Unocoin do?
Unocoin is one of the popular choices when it comes to dabbling in bitcoins as an investment option in India. It claims that it provides the easiest way to use bitcoin PoS for offline merchants and its SIP for bitcoin is first of its kind.
What's the plan?
According to Blockchain co-founder Nicolas Cary, the current market cap for crypto-currency stands at $164 billion and the Indian economy has the potential to add to that. Cary remarked, "India is our 35th market and after demonetization, there has been an unprecedented surge in people using Bitcoins and other crypto-currencies." Cary hopes it will increase further via Blockchain.