Bitcoin like currency to debut in India in January [India Today]

Non profit private organisation, Trestor foundation hopes to enter the digital currency space in India. A space which is still relatively vacant. Aiming at under developed, and developing countries, it hopes to aid in the upliftment of these economies. The T-Net, or Trestor Network is a peer to peer payment network which is completely user powered and hopes to eliminate middlemen.

Simply put, T-Net functions as mobile app or program which serves as a virtual wallet wherein one can store Trests  as well as indulge in transactions involving them.

According to Trestor foundation founder Kunal Dixit, “Using Trests is as simple as using email or WhatsApp. Beyond this, the users are benefited with facilities such as; faster and cost efficient to transfer, Trests can be transferred at minimum (close to zero) fees. They can be easily sent to anyone, anywhere in the world without paying up to 55 – 60 % transaction fees. ”

He went on to add, “Trests are short for Trestor Donation Receipts (TDRs). Instead of issuing paper receipts to our donors, we issue electronic receipts aka ‘Trests’.  On the date of launch, January 5, 2015, the price of 1 Trest would be equivalent to 1 US cent. That is, you can buy about 160 Trests with a 100 Rupee note. The price would then change depending upon relative demand and supply.”