OracleMovies and RBI CBDC DigitalRupee

When an Indian is travelling abroad is used to carry multiple foreign currencies in his wallet as cash or credit/debit card.

but whenever we go shopping we have to do mental calculations or use a calculator to find what will be its landing price in India and if we bought for a bargain price.

if we are buying high value products we have to also think of customs duty on the billing amount.

if we are buying it for our business we also have to think if we can buy from an Indian entity and if we can get GST credits.

Now think of buying a digital product on the NFT marketplace, and later sell them for a big profit. you buy and sell these assets on crypto currencies and where rates change every second. So for compliance reasons we may need to provide purchase price in crypto and conversion price in rupee, transaction/gas fees, royaltees etc for both purchase and sales, and profit, TDS and ultimately income tax and new rates.

We believe having DigitalRupee will reduce information overload for film producers and film technicians. They can compare their offline sales and sales on our NFT platform and see immediate benefits. This will also enable film trade to go digital in coming years.

OracleMovies DEFI(Decentralised Finance) platform is designed to be robust and be compliant with local laws in all jurisdiction we operate, our current Reserve currency is Dollar based stablecoins, and we strongly believe we can integrate it with RBI Central Bank Digital Currency DigitalRupee when it gets officially launched.

OracleMovies will join Industry Associations which are part of bringing adoption of Crypto, DEFI and for entertainment industry and work closely with stakeholders for creating awareness, bringing legislations, policies, procedures for development of crypto adoption in India.