When will Libra Launch in India? - Sinha Santos, Founder, OiX Global

I have been traveling all over South East Asia for the last few months. When Facebook officially announced Libra, I was in Hong Kong. The buzz in Hong Kong was huge. All of a sudden, every meeting I attended had just one topic of conversation - Libra. Quite frustrating, when you are trying to talk about your own product.
However, when I reached India on my next stop, I was greeted with silence. Libra was being talked about in clickbait videos, but there was no real conversation. I did not expect any buzz around it either. India is working with Blockchain technology in all possible fields, but Cryptocurrency is a taboo subject.
First off, Indian ban on cryptocurrency is not as confusing, as some would have you believe. You cannot purchase any cryptocurrency using the Indian banks. You cannot use cryptocurrency to buy goods. However, you can purchase an online token for digital purchase.
For instance, you can buy 100 points in Farmville, and buy an imaginary tree for your online farm in the virtual world. However, if you were to buy the same 100 points and buy a tree for your garden, then it would be illegal.
Libra is a cryptocurrency. Trading in Libra will be illegal until such time provisions are changed by the Reserve Bank of India. This means Facebook will lose out on the largest pool of its userbase - India. Is it a huge loss for Facebook? Sure it is. Is it a game changer for Libra? I seriously doubt it.
Let me put on my predictor hat and say that Libra will be the third coin to launch in India - First will be the Indian government coin, then will be a coin wither by Reliance or Paytm to give an edge to an Indian player and then will come Libra.
This is the future of cryptocurrency in India.

When will Libra Launch in India? - Sinha Santos, Founder, OiX Global
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