India’s Digital Rupee: A Secure Central Bank Approach for Faster Payments

India is set to launch its central bank digital currency (CBDC) using blockchain technology, aiming for faster and safer payments. Commerce Minister Piyush Goyal confirmed this initiative during a recent address in Doha, emphasizing India’s commitment to fostering innovation while mitigating the risks associated with unregulated cryptocurrencies such as Bitcoin. He clarified that while not banning cryptocurrencies outright, their limited adoption stems from lack of sovereign backing or asset-backed assets.