BTSC Market Strategy Characteristics
Overview
Overview: The financial system is undergoing a significant transformation with the official announcement of the digital rupee (e₹) by the Indian government, marking a notable shift towards digital transformation (DX).
The Indian government has laid out plans to introduce a central bank-issued digital rupee (CBDC), signaling a strategic move towards digital currency adoption. Rather than imposing prohibitions, our aim is to foster economic growth by regulating the cryptocurrency market. In November 2022, it was decided to initiate detailed regulations as part of a pilot project, which we fully adhere to. Below is an excerpt from the official statement regarding this announcement.
A Central Bank Digital Currency (CBDC) represents a digital version of traditional banknotes issued by central banks. Many central banks worldwide are contemplating the issuance of CBDCs. In line with this trend, the Indian government plans to introduce a CBDC named e₹ (digital rupee). e₹ presents additional alternatives to existing currencies. While resembling paper currency in essence, the transition to digital could offer benefits of enhanced convenience, speed, and cost-effectiveness. Moreover, it inherits all the trading advantages associated with other forms of digital currencies. The Reserve Bank's approach towards e₹ introduction is underpinned by two fundamental principles: creating a digital rupee closely resembling its paper counterpart and managing a seamless transition process. The Reserve Bank is set to initiate a limited pilot program for e₹, targeting specific use cases in the near future.
Use Cases
Exchange with points redeemed from Bharat AirFi communication charges: BTSC tokens can be exchanged with points awarded for communication services used by Bharat AirFi users. These points can be used to purchase services and products from various companies.
Access to Advanced Features: BTSC holders gain access to premium or advanced features within the ecosystem, incentivizing token acquisition and retention.
Global Financial Transactions: BTSC streamlines cross-border financial transactions, providing a secure and efficient channel for global value transfer. This is particularly advantageous for users involved in international trade or remittance activities. For example, collaboration with PAYNOW, which is affiliated with Indian Payments Corporation UPI.
Participation in Governance: Subject to the project's governance framework, BTSC holders may partake in decision-making processes, contributing to the decentralized governance of the Bharat Smart Chain.
As a utility token within the Bharat Smart Chain ecosystem, BTSC plays a pivotal role in promoting connectivity, facilitating global transactions, and advancing the vision of establishing a secure and inclusive financial environment. Through its diverse applications, BTSC significantly enhances the functionality and success of the Bharat Smart Chain project.
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