Bitindia will take 20 percent of India to Blockchain, it’s a PayTM for Cryptocurrencies It was right in the middle of the global economic crisis that ‘Satoshi Nakamoto’, a pseudonym for a person or group of persons, released a new peer-to-peer electronic cash protocol. This new cryptocurrency, called Bitcoin, varied from traditional currencies because it was not controlled by any government. Instead, it was a “global spreadsheet” or “ledger” that leveraged the resources of a large peer-to-peer Bitcoin networks to verify and approve each Bitcoin transaction. Bitcoin transactions have many advantages including ease of transfer, freedom from regulation, security, transparency, low fees, and reduced risks. Earlier this year, a graph on howmuch.net showed that of the total money in the world – roughly $84 trillion – Bitcoin accounted for $41 billion. Add other cryptocurrencies such as Litecoin, Monero, Ethereum and others to that number and the total amount in cryptocurrencies comes out close to $100 billion. Not exactly loose change!