BollyCoin’s desperation and RBI’s digital payments study

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Editor's note: Akanksha here.  Remember BollyCoin? If you don’t, it’s a project that is being peddled by actor Salman Khan and some of his close aides to build the next Bollywood NFT marketplace. (NFTs or non-fungible tokens are a way of recording the ownership of unique digital assets on a blockchain.) We spoke about BollyCoin in October when it was at pre-sale. At the time, many Bollycoin holders and spectators had flagged concerns and discrepancies about the project, particularly about its viability in the long run and the fact that it was being driven by one major element, Khan himself.   Three days ago, 7 December, was the coin’s initial digital offering. This is similar to a company going for an initial public offering to raise funds to either build an application or launch services. It was supposed to be BollyCoin’s moment of reckoning—the day it would arrive in the marketplace and prove itself as a viable project.  Things took a turn for the worse later that evening. About a couple of hours into the offer, data from its smart contract on Etherscan …