India’s Top Crypto Influencer and Blockchain Expert Keyur Rohit Talks About RBI's CBDC Digital Rupee

Keyur Rohit

He covers topics ranging from the basics of blockchain technology to the latest developments within the industry. His channel features a variety of educational videos on everything related to cryptocurrencies, including a series dedicated to educating viewers on how to invest in them.

Keyur talks about one of the RBI statements "CBDC is the legal tender issued in digital form by a central bank. It is interchangeable one-to-one with fiat currency and is the same as fiat currency. Its only distinction is in form. Blockchain-backed wallets can be used to conduct CBDC since they make payments final and lower settlement risk."

He explains the concept of the digital rupee for better understanding, "although the digital rupee is similar to a banknote, it won't be as substantial as paper money. The e-rupee is a virtual currency that simplifies, speeds up, and reduces the cost of making payments. It will facilitate frictionless digital transactions in electronic format. Users can pay directly, saving money on transaction fees."

Digital currency can be exchanged for money equivalent to paper notes because the CBDC is freely convertible against real money. To use e-rupees, unlike UPI, a customer does not require a bank account. It will complement currently used financial transaction methods and give users yet another payment option. he added.

Keyur was one of the honored guests selected to represent India at the World Blockchain Summit, which took place at the World Trade Center in Dubai.

His passion for blockchain technology has earned him a spot on the list of "Top Crypto Influencers in India," where he likes to assist others in becoming knowledgeable about this trending technology through his channel Crypto King Keyur.

"Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions."