Crypto to become mainstream technology in a few years
While investors are worried about the new crypto bill to be introduced in Parliament on November 29, on the other hand some people are quite positive about crypto technology.
Paytm founder Vijay Shekhar Sharma has a very positive view of cryptocurrency.
“The founder of Paytm, a major digital payment company in India, is “very positive about crypto.” Noting that cryptocurrency is here to stay, he expects it to become a mainstream technology in a few years.”
His statement comes at a time when a new crypto bill is going to be introduced in Parliament on November 29. There are many doubts in the minds of crypto investors regarding this bill. Some people have become negative and some are thinking positive. But everyone wants that there should be a regulation for cryptocurrency in the country.
Today I saw a video of a news debate on India TV released on November 25 in which four crypto experts were invited, one of which was Ajit Khurana, a former CEO of Zebpay. He said that regulation would be a better option than imposing blanket ban on cryptocurrency. He had also mentioned this to the inter ministerial committee. Inter-ministerial was formed by the government to make laws on cryptocurrency. All four experts look very positive to the crypto bill. From their conversation it appeared that they have full confidence that the government is going to regulate crypto through this bill.
More than that, the CEO of Paytm also gave his statement in favor of crypto technology. Paytm is an Indian multinational digital payment company, which recently launched its company's IPO. They have a huge customer database. Paytm already hinted that their company may provide bitcoin services In the future if the government regulates cryptocurrency.
One thing I understood from the news debate is that most of government officials don’t understand crypto technology very well. That’s why they want to promote blockchain technology but not crypto. The Indian government does not want to give currency status to crypto. Because every country has its own sovereign currency such as dollar (US currency) and INR (Indian currency). Therefore crypto cannot be recognized as a currency. However, nothing is yet known as to how crypto is defined in the crypto bill. Those who want to invest is waiting for tomorrow. But one thing is certain that if some positive report comes, then there may be a sudden jump in the price of crypto. Existing investors may make substantial profits or losses after the bill is introduced tomorrow. It is very difficult to say anything in advance. All investors are waiting for tomorrow. Let's see what happens.
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