Sachin on Nostr: Not a single person in my economic network in India use USD-backed stablecoins or the ...
Not a single person in my economic network in India use USD-backed stablecoins or the US Dollar.
Everyone uses the Indian Rupee.
Hundreds of millions of people have access to digital payments over this state-run payments protocol called the UPI, which is nearly ubiquitous.
UPI is far more accountable to Indians than Tether or Circle will ever be.
The Rupee doesn't depreciate rapidly enough vs the Dollar for people to consider USD as a store of value.
Bitcoin is the real alternative.
US Dollars are irrelevant in India's local economy.
Everyone uses the Indian Rupee.
Hundreds of millions of people have access to digital payments over this state-run payments protocol called the UPI, which is nearly ubiquitous.
UPI is far more accountable to Indians than Tether or Circle will ever be.
The Rupee doesn't depreciate rapidly enough vs the Dollar for people to consider USD as a store of value.
Bitcoin is the real alternative.
US Dollars are irrelevant in India's local economy.