Indian Government may launch its own Bitcoin- "LAKSHMI"

Well this is one of the jokes or rather THE JOKE, that I woke up to today morning; that the Indian Government is considering starting a Government backed Cryptocurrency. So who and what backs the Government? what backs the coin? So what's it all worth at the first place? If at all they plan to start a coin backed by INR, this would be the biggest digital joke of the MODI GOVT.

Government may launch its own Cryptocurrency- LAKSHMI

RBI considering to introduce its own cryptocurrency similar to bitcoin

When I was talking about the future of cryptocurrencies, to most of them here in the country, it looked like something that Modi will ban and will be the end of that innovation. Can't really complain about them as well, for off late that is what we are all waking upto every other day- #banbeef, #banromeo, #banMYASS. 

Well now it looks like Modiji is coming with his fishing rod to the pond to join the party. Whether LAKSHMI coin becomes a reality or not, its quite interesting to note that there seems to develop some sense in these grey haired langotti worns, for a few weeks back they were planning to ban bitcoin.
 Meanwhile the EU is threatening Estonia of dire consequences if they go forward with their home grown ESTCOIN. 
I'm sharing few links to the same below. 

Mario Draghi has dashed Estonia’s dream for a state-issued cryptocurrency

ECB's Draghi rejects Estonia's virtual currency idea

Hope you find it an interesting read.
PEACE OUT!