When evaluating any information from any source, whether from a government or not, you should keep human biases in mind.
The thing to keep in mind here is that India's bankers are giving their opinion on the current biggest competitor to their power and livelihoods. And the report says as much.
> The basic purpose of blockchain, or more generally the distributed ledger, the technology on which these crypto-products run, is to make financial intermediation, and therefore banks, redundant.
Imagine thinking any bureaucracy can give an honest assessment on the thing that makes them obsolete. Any opinion they give out should be evaluated through the lens of them losing their power and livelihoods. Any report from central bankers on crypto is the equivalent of McDonalds executives giving their opinion on Burger King.
The thing to keep in mind here is that India's bankers are giving their opinion on the current biggest competitor to their power and livelihoods. And the report says as much.
> The basic purpose of blockchain, or more generally the distributed ledger, the technology on which these crypto-products run, is to make financial intermediation, and therefore banks, redundant.
Imagine thinking any bureaucracy can give an honest assessment on the thing that makes them obsolete. Any opinion they give out should be evaluated through the lens of them losing their power and livelihoods. Any report from central bankers on crypto is the equivalent of McDonalds executives giving their opinion on Burger King.