Concept note about Bharat Coin, a GIS Blockchain Digital Currency for Bharat
A GIS block chain based digital currency that is backed by the resources, economy, and assets of Bharat and verified by trust and approved even by the daily wage labourer in Bharat right down to the location (GIS) where the transaction was done.
This is very different and much better than current blockchain superstar Bitcoin which is backed by nothing but only trust and does not have a location of transaction.
Respected Officers and Decision Makers and Citizens of Bharat,
We have people with the right intention and the wrong actions and the road to hell is paved with good intentions but wrong actions.
Our honourable and respected Prime Minister who I like and respect as a person for his intentions was right to do demonetisation.
But his wrong action was to reintroduce cash that too with high denominations.
Corruption and black money have only increased with the introduction of Rs 2000 notes.
Real Estate black money, Agriculture black money, Jewelery black money and all sorts of black money, corruption and tax dodging continue to exist and flourish not just in India but all over the world.
The right action and solution to not just Bharat but the worlds problems in corruption, tax dodging and fraud would have been to abolish cash totally and introduce a GIS based Blockchain based digital currency issued not just by the central bank, but monitored in real time by the parliament of Bharat and also accountable and verifiable by the ordinary citizen of Bharat right down to the daily wage labourer.
Abolish the cash rupee and only make Bharat coin the acceptable medium of exchange for all domestic and foreign transactions in Bharat. Give a basic allowance of a universal basic income in Bharat coin only to the ब्रह्मन् दान Brahma Dana (Gifts of God).
I don’t believe that anybody in this world even if they are extremely poor should be given anything for free if they are physically and mentally capable to earn a living. Giving things free to people whether they are poor or rich makes them lazy and take things for granted.
Within 3 years Bharat of implementing Bharat coin, it will be on the road to becoming the richest nation ever in the history of the world and within 20 years Bharat would have reached the milestone regaining its historical glory and wealth.
For all I know Bharat may already be working on this.
Considering the current world economy, Bharat by divine Karma has still not fallen into a debt trap and Bharat still has its same resources and people and more importantly the ethics, passion for hard work and culture that made it the richest nation in the world for millennia.
I have already written in my book why the USA and China and most of debt trap based countries are doomed to reap the sins of high leverage and speculation and free money.
If we follow my guidelines and vision if you are not already working on this, the world will invest and flock to Bharat and our currency will eventually be valued more than bitcoin in 20-25 years.
Blockchain is basically an internet based open and decentralised digital ledger available and verifiable by anybody and it is approved only if all participants in the transaction agree to the transaction.
Why is bit coin valued at $65000/ bitcoin (Rs 48 lakhs/bitcoin)? Because all participants of the transaction trust it and have to approve it and can verify it. There is no double spending (receiving money for same transaction twice) or hiding of transactions possible.
But Bitcoin does not have a GIS component it is not complete. You need to verify where the money was spent at where it was supposed to be spent and only GIS can provide this.
Bharat coin is just my name for this plan, it can be any name even rupee coin or rupee, the name does not matter the concept does.
A combination of GIS and Blockchain will eliminate all corruption, fraud and tax dodging.
I have an entire plan forward that I can explain in person not just for the economy but also for democracy and voting and agriculture and any activity that involves daily wage labour.
My Bio and Competence to lead this project in India and also for the World:
I probably am one of the handful people in Bharat and one of the few people in this world that has a combination of Finance, Engineering, Project Management GIS, Software Development and Blockchain experience with almost 3 decades of experience in all these domains.
Check out my linked in profile : https://www.linkedin.com/in/dhyanba/. I am an NPTEL Certified Block Chain Professional from IIT Madras, member of USA Mensa, and won best employee award for technical achievement in Information Solutions Division PBSJ, Florida, USA (now Atkins Global one of the top three award winning multidisciplinary firms in the world).
My Indian experience for almost 20 years, I started the GIS and Geospatial division in SECON Private Limited which is now among the leading Geospatial Driven multidisciplinary firms in Asia and the top award winning firm in Bharat.
My finance experience — I am among the top three investors in Inwestr.com, Bharat’s leading Investor website with more than 22000 real users staking real money not model paper trading.
Also check out more about me especially my Psychometric Test where I scored a 10/10 on 10/10 in Strategic Thinking and Problem Solving and an 8/10 on Ethical Propensity.
Author: Dhyan Appachu Bollachettira
Decentralised and transparent location-based governance expert, Author, Investor, Natural Farmer, and Keen Learner
Linked In: https://www.linkedin.com/in/dhyanba/
Founder: Shambhala Samathvam Private Limited
Advisor and shareholder: SECON Private Limited