Most existing cryptocurrencies won’t survive: Raghuram Rajan

  • Former Reserve Bank of India governor Raghuram Rajan believes that out of the 6,000-odd cryptocurrencies in existence today, most will perish.
  • Rajan compared the current fad in cryptocurrencies to the tulip mania in the Netherlands of the 17th century.
  • For India, Rajan said, the Centre must allow the underlying blockchain technology to flourish.
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