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National Award to Cryptocurrency Entrepreneur Amid Crypto Turmoil in India


National Award to Cryptocurrency Entrepreneur Amid Crypto Turmoil in India

Amidst rising cryptocurrency tension in the country, Harshita Arora, cryptocurrency entrepreneur, was awarded the Bal Shakti Puraskar for the year 2020 by the President of India. Prime Minister Modi in a tweet on 24 January commended Arora’s incredulous work towards the sectors of science, technology and human welfare. 

Harshita Arora is credited with the invention of a price monitoring and portfolio management cryptocurrency application, Crypto Price Tracker. Arora is also credited with the “Food AI” application that helps identify food items using pictures. She also worked on a biological application, “CellCount.” The application helped biologists count the number of cells in microscopic images. 

The Bal Shakti Puraskar is awarded to the best of the youth, recognizing their immense contribution towards the field of social service, innovation, bravery, sports, art and culture and scholastics.

Cryptocurrency in India

The act of conferring a national award to a blockchain and crypto entrepreneur has met with a lot of raised eyes considering India’s strict dealings with the cryptocurrency industry. In recent news, the Supreme Court of India, proceeded on with its hearings in the case filed against India’s Reserve Bank’s ban on banks dealing with cryptocurrency which prompted the RBI to clarify its stance on crypto. India’s Internet & Mobile Association filed the case as a clear signaling of disapproval of RBI’s ban on banks dealing with crypto trade.

The circular was issued in April of 2018 with strict imposition from July of 2018.  Apart from this, there has been criticism from around the world on India’s proposed ban on all cryptocurrencies. The revelation came in July 2019 when a copy of the bill, “Banning of Cryptocurrency & Regulation of Official Digital Currencies” was leaked to the country’s press. The bill aims an outright ban on any non-governmental digital currency and defines them as not being a part of the Official Digital Currency.

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I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.


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