The Royal Kingdom of Bhutan launched ‘Prizm’, its cryptocurrency, recently and its value will be equal to its fiat currency, the Ngultrum.
This comes after years of research and experimentation in different countries which included attempts to Para mining. It is said to be a perfect system.
Unlike other cryptocurrencies, this Bhutanese one will be different. The crypto mining will be carried out by the people at high internet speeds. It shall exclude any form of centralization.
The transaction can be carried out through computer systems, lap tops and other smart phones. The Government of Bhutan will purchase Prizm worth US $50 Million and distribute US $100 worth of it to every citizen initially.
Prizm is already available throughout the world.
Economist are expecting this to drive up the economic efficiency by more than 200 times.
As far as India is concerned, the Reserve Bank of India has banned the operations of all forms of crypto currency.
Crypto currency is valid in many nations such as Japan, Sweden, UAE and Venezuela.