Recently ICT State Minister Junaid Ahmed Palak discussed about bitcoin at a seminar. Now I am sharing with all of you details discussion of the seminar.
Table of Contents
What is Bitcoin?
Bitcoin is a digital decentralized peer to peer cryptocurrency, without a central bank or single administrator, that can be sent from user to user. Bitcoin is becoming more popular day by day all over the world. It also become more popular in Bangladesh.
ICT State Minister Junaid Ahmed Palak Speech:
The state minister for ICT Mr Junayed ahmed polok on behalf of Bitcoin said the currency is changing over time. From time to time a single currency is being introduced. At one time there was exchange with forks, exchange with resources. Another time came paper or paper money. Then came the exchange via plastic card. Then came the mobile wallet, the digital wallet. Digital currency or cryptocurrency is currently in circulation. Now we need to study the classifications of these digital currencies.
The Minister of State for ICT said with an example:
He said, for example, if you think you work as a news operator, your salary is 10 thousand tk. Now this is valid for 10,000 tk. Suppose you have tk 10,000 in your pocket or tk 5,000 in the bank and tk 5,000 in your pocket. Or you can keep it in a digital wallet, such as bKash, Rocket, Cash. Now if you want to buy illegal weapons or drugs with that money, then use money or digital currency to make the payment. Is there any fault in money or digital currency? Money or digital currency does not know where and how it is being used.
The state minister for ICT has said a lot more on behalf of Bitcoin. Moreover, if money is smuggled from the country to abroad or drugs are brought to the country, money is used in its transactions. So what is the fault of money in these illegal transactions? It is the fault of the trader. He thinks that digital currency should be launched centrally in the country. If it is a digital transaction platform, every transaction will go online. Just then, the digital currency could launch. Then the accountability of the compromise for all can be ensured.
The state minister for ICT told reporters:
He thinks that this issue needs to be discussed and discussed with the Governor of Bangladesh Bank, cryptocurrency experts and cyber experts. It would not be right to declare cryptocurrency or digital currency illegal without just understanding it.
He told reporters that arrangements should be made to sit down with the Governor of Bangladesh Bank, Digital Currency Experts and Cyber Security Experts. Then we have to confirm what the governor of Bangladesh Bank said. After these discussions, it can be said whether cryptocurrency or digital currency will be legal tender in Bangladesh.
Conclusion:
From the above discussion it is clear that the Bangladesh government is deeply reviewing Bitcoin. It is hoped that soon Bangladesh Bank will express its views on this issue and the government will take action of it. If you have any question regarding this please comment through the comment box.
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