Bitcoin is gold 2.0, can transform remittances: Brock Pierce - Economic Times

Bitcoin is gold 2.0, can transform remittances: Brock Pierce - Economic Times

MUMBAI: Bitcoins could transform the remittances business in the country and the digital currency could gain increasing acceptance in India, given its gold-like attributes, the chairman of the global Bitcoin Foundation told ET. The Bitcoin Foundation was started in 2012 to standardise, promote and protect the use of Bitcoins. The foundation lobbies, organises conferences and provides technical support for the digital currency. "I am really surprised bitcoin isn't more popular in India, given the strong gold culture here. I call it Gold 2.0. It has all the attributes other than the fact that it isn't tangible, and tangibility is less important in the digital age," Brock Pierce , chairman of the Bitcoin Foundation, said on the sidelines of the SingularityU India Summit held by INK Talks. Pierce said the digital currency could be used in the remittances as the peer-to-peer tr...

Full article: http://economictimes.indiatimes.com/news/economy/finance/...

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