The history is questionable but it is believed that more than 2500 years ago the first coins were introduced and about 1400 years ago the Chinese were the first to use paper banknotes (mostly in the form of private banknotes issued credit securities or bills). Some of the earliest forms of ancient coins were minted by merchants as tokens for use in commercial transactions. Although it took centuries for coins and banknotes to take root around the world, their commercial utility was so impactful that even today our interpretation of money relies heavily on it. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Fast forward to the 21st century and what we are staring at is cryptocurrencies and with much excitement, the technology behind them: blockchain technology. This article is just an attempt to understand some of the probable reasons behind the growing popularity of cryptocurrencies in India and highlight the emerging recognition of blockchain technology. In recent years, the concept of cryptocurrencies has garnered significant global attention, something that India has been watching closely. It may not be difficult to believe that such a period of observation may have served as a boon for many fintech enthusiasts in India. The novelty factor has further supported interest and curiosity in cryptocurrencies. Anticipating profitable returns from an investment is the natural tendency of an investor. Stunning price surges in some of the most popular cryptocurrencies in a very short period of time might seem very attractive from a returns perspective, but the high prices of these popular cryptocurrencies also make them inaccessible to small investors and one of the likely outcomes is which could push these small investors to explore other cryptocurrencies with the anticipation of similar levels of returns as popular cryptocurrencies. However, return on investment is only one of many factors in evaluating and examining an investment option. Other factors, such as exercising caution and evaluating the prospects of a project for which investment is required, are also very important. Another factor for the vibrancy of cryptocurrency trading in India could be the profile of the small trader: young, tech-savvy and compliant, a phenomenon resulting from favorable demographics. According to a media report, Reliance Jio Infocomm Ltd is considering creating its own cryptocurrency, JioCoin and is also planning to create a team of young professionals to work on blockchain technology. Kodak is also planning to come up with its own cryptocurrency called KodakCoin, meant to function as a token within its new blockchain-based KodakOne platform, a rights management platform for photographers. Please note: this is just an example. Get a custom paper from our expert writers now. Customize Essay Another company: Obizcoin plans to provide its proven solutions via BOT. OBIZCOIN is developing an intelligent business process automation BOT based on Artificial Intelligence and Blockchain technology.