Digital Currency Vis-A-Vis The Right To Privacy
This Blog is written by Paryas Khosla from Vivekananda Institute of Professional Studies (VIPS), Delhi. Edited by Prakriti Dadsena.
The right to privacy emerged after the case of Justice Puttaswamy v. Union of India in the nine judgments in which the Supreme Court held that the individual had a fundamental right to privacy. After this many jurists came up with different perceptions of the law, as we know that the government is trying to hinder the fundamental rights of the individual regardless of the regime of the government, the adhaar card that identifies the individual was also in question after this right to privacy had been called into question. We all know that, during our adhaar card application, we all submitted our information, including biometric information, ever since people also heard about the link between the adhaar card and our bank account. It is the saying of many politicians, as well as the jurist, that today we all live in the age of civil liberty, what is the sense of civil liberties? It means the state of being subject only to the laws developed for the benefit of the nation, in particular with regard to freedom of action and freedom of expression.
Since the emergency that followed the famous ADM Jabalpur case, we have witnessed the violation of a decent judgment by the Khanna Court of Justice, setting a precedent for civil liberties. Today, in an age of technology, we all have the technology available to us, such as personal computers, tablets, cell phones, etc., that connects us to various parts of the world, including organizations, etc., so these days, everything is available on our own doorstep, so we can transfer money from one account to another, we can pay electronically from our debit and credit cards. There is also a definition of electronic payment by wallet apps such as paytm bhim, Google pay etc. These are the fastest and the simplest way to pay every time you can even store the sum in some of the apps and also related to the bank information, the concern that people have about their breach of privacy and the protection of their data that they have received, as well as biometric data.
SIGNIFICANCE OF THIS DEVELOPMENT
After the Puttaswamy judgment the government made the shri krishna committee which was formed to render the data protection act of the country, in such a way that we can guarantee that the data of the person is protected forever it is in safe hands. Also, there are many campaign of the citizens the committee comes up with review concerning the Data Protection 2019 it had some important point of governance. It was criticized by the opposition that this could result in a violation of the right to privacy, that there is no proper mechanism for data protection, that there has been a large number of campaigns for improvement, and that there have been many flaws in the Data Protection Act 2019, which are as follows with the flaws in the Data Protection Act 2019.
This should be based on the Privacy Standards of those Standards, which were also set out in Puttaswamy ‘s decision, that there should be a clear explanation as to why the data was taken and for how long, free to express interest, appropriate procedural protections was taken. The third argument is that there should be a proper data privacy agency responsible for its function, and the fourth point is that there should be reasonable oversight for the processing of data, which is how much data is used, and what reasons, as we have seen in data violation situations, where the government is the key data manager, and we need transparency. Fifthly, how can the distinction be made between the right to privacy and the right to know, there is a need to make the demarcation between all of them necessary. We also recognize the policy is made by the public through the data privacy program and requires public confidence, which can only be achieved if the government retains the power to implement the rule or it would have no use.
Also with the emergence of neo-politicism, the world has been compelled to shield more of its records, because we have noticed that many social media companies have more knowledge about the citizen than about the nation. Why we need to protect our data as privacy is a human right and no one in the neo-political age wishes to abuse their data. In the age of reform, we have also seen the latest ramifications of the legislation, such that privacy or data security is part of the same since the judgment on the Adar case and the drive to gain the confidence of the people’s government has come under the Data Protection Act 2019.
There are numerous impacts of digital currencies in India Since the introduction of Bitcoin, a number of cryptocurrency exchanges have started to operate. Yet they operated in what was always a administrative vacuum. Not only was there no clear definition of what a cryptocurrency was, but there was also no law prohibiting or regulating its use. This condition persisted until April 2018, when the Reserve Bank of India released a circular, not barring us from cryptocurrencies, but from offering banking services to everyone who deals with those currencies.
It essentially implied, though, that any trade that allowed the use of cryptocurrency would be thwarted. But now, in what might come as a temporary relief, if nothing else, to those who deal in those currencies, the Supreme Court has, in the Indian Internet and Mobile Association, vs. the Indian Reserve Bank. In a 180-page judgment, penned by Justice V Ramasubramanian, the court noted that while the RBI had the authority to control virtual currencies, the ban enforced by the April 2018 Circular was arbitrary and thus ultra vires the Constitution. In the view of the court, in the absence of any constitutional ban, the practice of trading with these currencies should not be regarded as a lawful activity protected by the fundamental right to carry on any profession, commerce or service in compliance with Article 19(1) (g) of the Constitution. According to the court, the circular of the RBI, through enforcing a wholesale moratorium on the provision of banking services to such merchants, obviously impaired through what is otherwise a legitimate vocation, through moving beyond the limits permissible under Article 19(6) of the Supreme Court, also acknowledged that this cryptocurrency is a infringement of the digital payment, which could contribute to criminality throughout the economy.
PROVISIONS AND CASE LAWS
Article 21 of the Constitution talks about the right to privacy of the citizen, each of whom has the freedoms alluded to in Article 19 of the Constitution, as well as the numerous decisions of the Supreme Court, such as the Puttaswamy and the Indian Reserve Bank on cryptocurrency, and also the security of the Data Act 2019, which make the laws fine, but it must be for that cause.
In the puttaswamy court said that the right to freedom is only there if there is the right to privacy and also in the most important case, the Keshvananda Bharti case said that the right to life of the individual is only there if there is freedom for the individual in the world-famous case against the Facebook regarding the infringement of the data that Facebook was accused of helping the Donald Trump campaign in the election.
ANALYSIS AND CONCLUSION
First of all, the digitization of the currency is important, it makes our lives simpler, we have to realize that we all live in a developing environment, where we are becoming technical advancements, and that everything has its own merits and demerits, so we have to realize this, even in a country like India, where most of the population living here is rural, not urban. They do not have such exposure to technology and even to people who use digital currency because they do not have such information, there is a need to put in place a system to keep an eye on the government such that the rights of the citizen will not be abused, and also to test the practices of private actors in the industry who are using digital money applications so that their actions are not abused.