The Mumbai Crime branch, in India, has uncovered a gang behind a $13 million (INR 100 crore) cryptocurrency scam, which was spread over the states of Maharashtra, Gujarat, and Uttar Pradesh. The scammers had launched a scam coin, dubbed Cashcoin, which was claimed to be similar to Bitcoins. The gang cheated people by promising them double returns within two months.
Now India has joined the league of Blockchain aspirers. It has decided to manage power management in its country through it. One of the states, Uttar Pradesh (UP), has taken the first step. It will use Blockchain to empower customers to trade generated renewable power among themselves without the need of any third party.