Why Digital Rupee is not Crypto Currency!!
Reserve Bank of India is above to launch - Digital Rupee based on Blockchain
Below diagram explains, how a simple transaction of "Bitcoin" a typical Crypto Currency works
Core principle behind any "Crypto" currency is, "Decentralisation"!
Any Digital / Crypto currency which can't be mined as part of every transaction doesn't belong the "Crypto" type.
It also rules out "Anonymity" another major feature of "Crypto", its nothing different from fiat currency the moment we remove these core features out of any "Digital asset".
NFT s, Metaverse all are by default built on top of the block chain. My guess is the RBI might be stopping the "minting" of paper. But don't see any advantage of storing the Digital rupee on top of Blockchain (just overhead).
Already all digital wallets and banks are doing it even before demonetisation effectively after following all safety measures.