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India has changed a lot since 2014. I remember when the first Bitcoin launch was there the adoption was extremely low to no. And then the things were kind of govt vs crypto for many years. Then in 2019 things changed with more tech savvy people joined the current govt. And now there is no blanket ban. But there are only regulations and taxes. No freebies, just regulations and taxes. Though the taxes are kind of heavy as of now but in near future things would surely change.
Currently RBI is testing the E-rupee which is a CBDC digital currency. And they are making sure to keep things a bit more or less secret. But slowly the adoption to the real world assets has been going underway.
RBI is in plans for the turning of the tokenized asset for every little thing that you do with the crypto. So anything in real world asset would be turned into the tokens. Like say bonds would be converted and so does the deposit. They want to do this in the phases because there are concerns of the cyber security and the variety of the tokenized issues for adopting in the business and the nation level.
What to expect from here? You can expect India making every asset like say land, bank accounts, cash and most of the financial instruments into the blockchain based tokens. You may however see this in a on and off fashion. So that it would be possible that the govt may seem like taking negative stance on crypto but inside they are working with polygon blockchain guys and wazirX bybit type companies and doing things for the nation.
Let's see where the asset tokenization goes from this point onwards.
