IRCTC has created non-fungible tokens to celebrate the Hindu holiday of Holi.NFTsAs tickets.
This NFT will be given to all passengers of the recently launched semi-highspeed Tejas trains 82501 and 82501 traveling from Delhi to March 20th until April 2nd. This initiative offers travelers an unique experience through the integration of traditional festival aspects with digital technology.
IRCTC (Indian Railway Catering and Tourism Corporation) has described the introduction of NFT as a tribute. “cultural heritage” These tickets are not just for Delhi and Lucknow. Tickets are far more than mere tickets. “digital souvenirs,” This is a great way to show off your work. “elaborate sketches” They are an excellent way to learn about the history of a city and its vibrant culture. Blockchain technology allows for these NFTs be authenticated both by authorities and public. “ensuring authenticity” The security of the ticketing procedure can be improved.
Indian Railways is exploring and implementing a number of initiatives, including this one. blockchain technology Its operations. Collaboration with NFTtrace will allow for the recording of tickets purchases securely on Hyperledger Blockchain. These digital tickets will be traceable and authenticated using smart contracts.
The IRCTC showcased a sneak peek of these NFTs via its official X account, but has not confirmed whether they are free for ticket purchasers or if there will be a cost. Corporation has hinted about potential benefits and offers by selected brands, but details are still unknown.
Experts in the industry have applauded this initiative. Sumit Gupta of CoinDCX in India, the co-founder, said that the initiative is an excellent way to increase the adoption rate of crypto. Virtual Digital Assets India
It’s not the IRCTC’s first venture into blockchain collectibles. IRCTC launched its first blockchain collectibles earlier this year. introduced NFT tickets For journeys to Ayodhya – brand them as precious keepsakes instead of mere travel documents.
Adoption of NFTs Indian Railways’ use of the technology for ticketing may pave way to its widespread adoption, considering that more than 1.2 million tickets per day are booked through IRCTC. The move will also help to reduce common problems such as forgery of tickets and ticket misplacement.
The development is amidst the national’s focus on the digital rupeeThe digital currency of the Central Bank. Announced Reserve Bank of India, on February 8th announced that the digital rupee would be operable offline and programmable. This is expected to increase accessibility and use of digital currency in the entire country.
As the Nation has kept cryptocurrencies on the sidelinesIndian investors could soon engage in spot Bitcoin exchange-traded fund (ETF) trading with U.S. through MudrexA California-based platform for crypto investments. Mudrex intends to launch offerings from BlackRock Fidelity Franklin Templeton and Vanguard during its first phase. This is a big step in integrating cryptocurrency into the mainstream. financial The Indian ecosystem
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Source: crypto.news