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The National Payments Corporation of India (NPCI) is looking to expand in the blockchain industry by hiring a head of blockchain. The company posted a new LinkedIn position titled “Head of Blockchain.” The new hire will lead the institution’s expansion towards using blockchain technology and research into payment systems in India. The position demands a high knowledge of the blockchain industry and previous experience working on blockchain projects of at least 16 years. The job post also shows that the NPCI plans to conduct proofs-of-concept (POC) for blockchain projects in collaboration with various teams to establish feasibility and proposed efficiency/ cost/ security improvements. You might also like: Indian authorities urged to restore access to UPI for crypto exchanges The UPI development in India The UPI (Unified Payments Interface) payment s system is a real-time payment system developed by the National Payments Corporation of India (NPCI). ...

A pan- India crypto fraud scheme was recently busted by the Economic Offence Wing of the Odisha police. The prime accused in the case has also been arrested. The multi-media Ponzi Scheme involved more than ₹1000 crore [$120.69 million] invested by users into the STA token. #WATCH | Bhubaneswar: On a Rs 1,000 crore crypto currency scam, (IG EOW) JN Pankaj says, "Odisha (EOW) has busted a very big multimedia, pyramid structure, ponzi scam…We have got to know that people have invested more than Rs 1,000 crores in this scam across India . Around 10,000… pic.twitter.com/K0UZACouCg — ANI (@ANI) August 8, 2023 The head of STA Token, Gurtej Sigh Sidhu, and the Odisha unit head, Nirod Das, were arrested by the police. Victims from different states of India, including Delhi, Jharkhand, and Rajasthan were lured into this Ponzi scheme. Revealing further details regarding how the scam, EOW Odisha, JN Pankaj, said, “Approximately 2 lakh people are membe...

BRICS members China and Russia are advancing to convince other developing countries to ditch the U.S. dollar for global trade. The two countries are extensively promoting the usage of the Chinese Yuan to settle cross-border transactions. They’ve been successful in their quest as India, Pakistan, France, and several other countries paid in the Chinese Yuan. Also Read: BRICS: 22 Countries Open Accounts to Trade In Rupee, Ditch US Dollar The BRICS alliance was looking to create a new currency to challenge the U.S. dollar’s global reserve status. The bloc took a U-turn a month ahead of the summit and announced that the formation of a new currency will not be discussed in August. BRICS member India was the first to indicate this month that it would not take part in the currency formation. Russia ’s Central Bank Governor Elvira Nabiullina also spoke about the BRICS currency saying its launch is not feasible at the moment. BRICS: India & Russia Step Back Fr...