Laxmicoin, the new Hindu virtual currency has delayed its launching due to issues with the local regulatory authorities, as it was reported earlier at NDTV. The currency is aimed to the local population that has seen the Rupee lose value considerably.
Hindus have traditionally used gold as a store of value, but the government has increased taxation on the yellow metal substantially in the last year. Hindus have been looking for an alternative to gold and Laxmicoin might just be it. At the moment, digital currencies were unable to raise awareness in the country, but a local currency might do the trick. The potential market for the currency is immense, making laxmicoin a very interesting investment idea if they succeed.
Apart from the regulatory issues to be resolved, there are also technical difficulties to be resolved before its launching. Although 80% of the Hindu youth have internet access, only 5% of the population has a connection at home. This will create problems when it comes to mining new currency. We are hoping that this details will be taking care of and we will be able to see how much do the Hindus like laxmicoin soon. Please keep visiting our site to get the latest news on laxicom.
