Cryptocurrency Rupee $rup crypto Blockchain tech in India and South AsiaNov 27, 2017
Cryptocurrency Rupee $rup crypto Blockchain tech in India and South Asia
25% of the world uses the Rupee as their currency. The name is good because it is synonymous with a real, physical currency which will make a more seamless transition to crypto. Once this coin is adopted into mainstream, it should be HUGE. I am impressed with the dev team being ahead of schedule with their roadmap so far. and it shows with their growth in interest and price happening pretty quickly. Learn more at the official crypto Rupee website here.
Wide scale adoption is the key to a successful crypto currency like Rupee
Rupee will eventually hit 20$ Dollars. Why? Let me explain.
We already see on their twitter that merchants are using Rupee, few but they growing in numbers. Rupee already hit 1 dollars yesterday on Cryptopia. this is done without any marketing, which will start in december.
If we compare it with MonaCoin, that has like 56ish million coins in supply, they reached over 6 dollars, with only Japanese people backing it, even their homepage is in Japanese.
Rupee on the other hand has 22 million in supply, aiming at over 2 billion people, besides that they are using English as a main language, that gives us outside South Asia a chance to understand what is happening.
To summerise it and why I believe it:
1. 22 Million Coin, Aiming at 2 Billion people (Main target) With a name that is common for south asia for currency: Rupee.
2. New Homepage, New Whitepaper and code change so the blocks will move waaaay faster than it is doing now.
3. With release of Mobile Wallets, which will make it easier for merchants and private people to make transaction, while their money is safe and secured on a electrum server that Rupee is offering.
4. Very active and proud community, they calls themself Rupsters I think.
5. They are planning Rupeebase, what that contains I dont know, but the name implies some kind of Exchange from Rupee to Fiat.
6. Besides that, as more heavy investors will approach Rupee as they rose, and more merchants starts using it. This will make the coin rise like crazy.
Im Hodl, dont care if it goes up to 2-4 dollars. The potential is to huge to miss out.
DYOR. Check out the official Rupee roadmap here.
How did Rupee start in the crypto currency world?
The Rupee Blockchain is not a startup or an ICO. It is a well-established Cryptocurrency Coin and is presently available on several exchanges. It was originally launched in 2016 and there are roughly 21 million Rupee Coins in circulation. Rupee is an open-source cryptocurrency based on the Litecoin source code. In 2017, a motivated team from the US, Europe, India and Israel realized the potential of Rupee and started working on the project. They spearheaded a relaunch initiative in September, 2017. Besides code improvements, many features and benefits were added to the original Rupee Coin concept. Learn more by watching an official Rupee youtube introduction video here.
Rupee as a term is widely known around the world as a fiat currency primarily used in South Asia. Rupee is the common name of paper (fiat) currencies in India, Pakistan, Indonesia, the Maldives, Mauritius, Nepal, the Seychelles and Sri Lanka.
What’s so good about Bitcoin and blockchain stuff anyway?
Prediction is a tricky business. It’s so easy to be wrong and so hard to be right. But that’s exactly what we’ll do here. Since we’re rapidly approaching the ten year anniversary of Bitcoin’s whitepaper publication, I’ll attempt to project out twenty years to see the evolution of Bitcoin, blockchain, alternative cryptocurrencies and decentralization.
This is the type of article that will look unbelievably foolish or incredibly brilliant when I’m old and gray. I don’t care. I’m going for it anyway. I’m also going to go much, much deeper than “Bitcoin will go to zero” or “Bitcoin will become the reserve currency and be worth $1,000,000”. That’s not really saying all that much and anyone can do it.
Instead we’ll look at how the technology will transform and how society will transform with it. Now insert Rupee as a regional-specific token of their own people.
Is Rupee involved in what might be a crypto-currency bubble?
Right now we’re in the grips of tremendous euphoria. There’s so much potential. We can practically taste the decentralized future. It’s just around the corner! Any day now. Of course, that’s almost certainly not how it will work out. The bubble will pop. Crypto vets are right. 90% of tokens will fail. But after the pop comes the real working ideas.
Eight years into the crypto experiment, everyone is working on the railroad tracks of the future but we don’t have much to show for it other than speculative trading and some smart contracts. The apps are hideous and practically unusable. It’s nerve wracking when you push “send” and blast $5000 across the web to someone. Better hope you copy and pasted that address right so your money doesn’t disappear into the void!
When the internet was a bubble, the best search engines were born
When the Internet bubble burst many of today’s marquee companies saw their stocks crash 85%. Yet they survived and the best was yet to come. Amazon and Google went on to dominate the world.
The same will happen in crypto for Rupee.
The 10% of projects that make it through the bloodbath will turn into the Amazon, Google and Facebook of tomorrow and likely even the JP Morgan and Goldman Sachs as well, not to mention maybe even the governments of the future, like digital direct democracies or liquid democracies.
Innovation is hard work. You’re literally trying to create something that doesn’t exist!
Government Cryptocurrencies will flourish – buy Rupee crypto here
Government cryptos will be a very, very bitter pill to swallow for current true believers in the crypto space but they better get used to them. A better bet is to assume there’ll be hybrid systems of decentralized and centralized crypto and to design for it right now to avoid getting swallowed in the tsunami to come. Better to embrace the current system with blockchain and then overwhelm it from within rather than ignore it so that it becomes hostile.
In recent times, the term “Unbanked” has become very relevant in terms of building financial platforms based on blockchain technology. Mainstream banking has not been very successful, either by design or otherwise, in opening up their doors to people of all regions and of all income levels. This leaves tens of millions of global consumers without the use of a system of currency transfer. All that was available was the archaic centralized system where huge fees are levied for every conceivable transaction, and the rules and decisions are in the hands of the few powerful corporate giants.
Decentralized Cryptocurrency Rupee Will Become a Parallel Economic Operating System for India and South Asia
The same factors that make it hard to form consensus across a blockchain, make it hard for all the world’s governments to agree on anything. Even as some countries openly rail against them, many others will openly embrace decentralized cryptocurrencies, especially the ones who suffered the worst under the dominance of Europe and the US dollar over the last century.
Rupee Blockchain is Just the Beginning of Decentralized Consensus for South Asia and India
Blockchain systems are only the first successful implementation of decentralized consensus mechanisms. The cryptocurrency revolution has reached a myriad of industries and many global locations. It was only a matter of time that a forward-thinking team of Blockchain Technology professionals would launch a solid crypto coin in the South Asia region, including India of course. Rupee Coin capitalizes on the well-known fiat brand known as Rupee. Throughout the South Asia and India region, fiat Rupee has been in use for many decades. Thus, the name is readily accepted and therefore had built in credibility.
Rupee Crypto Will Get a LOT Easier to Use for India and South Asia
Many people travel outside of their native country for employment. When they transfer money back to their family they are hit with third party fees that account for billions of dollars of wasted money. The use of a decentralized blockchain crypto currency will enable millions of people all over the planet to transfer funds almost instantaneously with little or no fees. Merchants will be able to accept the Rupee Coin along with other crypto and fiat currencies. An eCommerce platform, rupeebase.com, is in the works that will become a major marketplace for citizens of the world. Like an Amazon in the crypto space. Rupeebase.com will also be an exchange for easier conversion to and from fiat currencies (INR, USD etc.) for merchants and buyers.
No doubt that the Rupee Coin has the potential to become as popular and valuable as Bitcoin. After all, with built-in name recognition and the fact that it is already trading on several exchanges, Rupee has already accomplished what other crypto currency projects dream of. Unlike fiat currencies, total supply of Rupee Coin is limited and no more will ever be created. A detailed discussion on the Rupee Concept can be viewed in the Rupee Whitepaper here.