According to Nandan Nilkeni, cryptocurrencies are acceptable as a store of value but these are not ideal for transactions. It will never be able to meet the transactional efficiency of UPI in India which deals with 2.3 billion transactions a month, and the architecture is for 1billion transactions a day at almost zero cost. Bitcoin can never compete with UPI on transactional efficiency. It could be considered as a store of value. It can be thought of as an asset class, such as gold and real estate. These can be regulated by some rules. RBI can think of a digital rupee, and can use UPI architecture to distribute it. This architecture allows multiple stored-value accounts. UPI thus can have a bank account, a wallet, a bitcoin account or an account for digital rupee.