India is well-equipped with the infrastructure, regulations, and robustness of sovereign digital currency, eliminating the need for rupee stablecoins. As noted by Srinath Sridharan, Corporate Advisor & Author of Family and Dhanda, innovation in a reliable monetary framework should enhance stability rather than replace it.
How does a technological advancement reshape the finance sector? Are we addressing a new issue, or merely rebranding an existing problem with improved technology? Is it possible to truly reinvent currency without reconsidering the sovereign authority that underpins it?
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