As the focus around cryptocurrency and blockchain technology grows worldwide and in India, the implications of taxation and its eventual regulation are being weighed. While some view the emergence of this decentralised system with caution, the others are trying to wrap their heads around how to fit it in a world that already has its set financial systems. A. Damodaran, professor of economics and social sciences at the Indian Institute of Management, Bangalore, argues that the potential of cryptocurrencies as decentralised finance is over and India should focus on creating a national blockchain strategy to make it a global player.