JPMorgan Executive Forecasts Bright Future for India’s CBDC
Naveen Mallela, from JPMorgan’s blockchain unit, highlighted the rapid adoption of blockchain technology in India, especially with the launch of the e-rupee CBDC.
He sees CBDCs as the next step in the evolution of UPI and aims to fully digitize cash for internet-free payments. Mallela supports the “Finternet” concept, a global ledger he believes will surpass previous digital initiatives.
These remarks align with the RBI Governor’s announcement of ongoing CBDC pilots with offline and programmable features, emphasizing a gradual rollout based on thorough evaluation.
Clever Robot News Desk 1st September 2024
