India is the first country to allow the purchase of computer and other devices and software in India by using digital currency.
A circular from the Ministry of Electronics and Information Technology (MEIT) announced on Tuesday, November 30, said that “Microsoft computers, laptops, mobile phones, tablets and smart phones can be bought with the use of digital currency.”
“We are announcing the first step towards enabling online purchases of the products and services by the public, through the use and purchase of digital currencies such as Bitcoin, Ethereum and Litecoin,” MEIT said.
“This step is a direct response to the demand for online payment services in India and will enable India to continue to be a hub for digital payments.”
The circular did not provide further details on how such transactions would work or who would be able to use the digital currencies to make online purchases.
The MEIT circular said that this new digital currency would be used by the Indian government to pay for the costs of operating its infrastructure and digital services.
The circular also said that digital currencies are “the future of payments and commerce in India” and would allow Indians to make payments with a digital form of payment.
According to a report in The Hindu, MEIT officials said that India has “one of the most advanced IT infrastructure in the world” and that the government has been trying to encourage its citizens to use digital currency to buy everything from laptops to cars.
The paper said the circular “reiterates the MEIT’s call for digital currency usage in the country to enhance the nation’s digital economy and financial inclusion”.
The MEAT circular said the use cases for digital currencies include payment, remittance, payments for goods and services, and payment of tax.
Digital currency could also help Indian businesses “to make payments via the Internet of Things”, the MEAT said.