Modern technologies have made huge changes in people’s lives and India ranks third among the most attractive investment destinations for technology transactions in the world. The internet, genetic engineering, digital media, personal computers, electronic funds transfer, and artificial intelligence are only a few items on a very long list of modern technologies. In this article, we will focus on virtual reality and cryptocurrencies, since India has a bright future when it comes to these fascinating innovations.

Virtual reality

Today, virtual reality is represented in numerous segments of everyday life, even though until only a couple of decades ago, it was something we only saw in science fiction films. There are plenty of examples of VR use, from virtual climbing Mount Everest, virtual horseback riding, to a virtual visit to a wrecked boat under the sea. Augmented reality, virtual reality and mixed reality are changing the way people work, learn, and play. India is making huge progress in the field of virtual reality, but unlike other countries, it’s not focused only on gaming. Experts in India are using virtual reality in many different fields, such as automotive, manufacturing, transportation, architecture, films and animation, education, and healthcare.

It’s very important to use this technology in a creative and useful way and to make its products affordable and accessible to the wider audience. India is very successful at it, but when it comes to VR there is always a question of an ethical nature. People may be worried that the line between virtual reality and reality will become so thin, that we will not be able to distinguish them. This doesn’t change the fact that technology is advancing and that VR may become a part of our reality.

Cryptocurrencies

Even though the topic of cryptocurrencies is controversial in India, it definitely can’t be ignored. There are many cryptocurrency investors and people can use their bank accounts to buy and sell bitcoins. There were a lot of speculations on the recent news about the law to ban cryptocurrency trading but it’s concluded that instead of a ban, India needs a regulated framework, just like China, Singapore, South Korea, etc. Crypto transactions were banned two years ago by the Indian central bank, due to several frauds, but in the end, Cryptocurrency exchanges won a lawsuit in March this year.

Bitcoins can be used to make money transfer faster, and you can use a bitcoin wallet to send money to people with or without bank accounts. Cryptocurrencies can be used while shopping in online stores, paying deposits in online casinos, paying rents and accommodations, etc. Interestingly, many online casinos nowadays use cryptocurrencies as a payment method. This fact suggests that people in India are showing their trust and readiness to take a chance with all the innovations that modern technology has to offer.