Crypto is here to stay and is going mainstream in 5 years – regulating Bitcoin News

The founder of Paytm, a large digital payments company in India, is “very positive about crypto”. Note that the cryptocurrency is here to stay, he expects it will become mainstream technology in a few years.

Paytm founder is “very positive about crypto”

Vijay Shekhar Sharma, the founder of Paytm, said at a virtual conference organized by the Indian Chamber of Commerce (ICC) on Thursday that cryptocurrencies will remain, PTI reported. He added that crypto was Silicon Valley’s answer to Wall Street.

Paytm is an Indian multinational technology company specializing in digital payments. The company completed an initial public offering (IPO) last week. In its IPO filing, Paytm announced that it has 337 million registered consumers and 22 million merchants.

Sharma said:

I am very positive about crypto. It is essentially based on cryptography and in a few years time it will be the mainstream technology, like the Internet, which is (now) part of everyday life.

Paytm’s founder admitted that cryptocurrency is currently used speculatively, stating:

Every government is confused. In five years it will be mainstream technology.

Sharma believes that people will realize what the world would be like without crypto. However, he stressed that crypto will not replace state currencies such as the Indian rupee.

Paytm’s founder also said that Paytm will roll out in developed countries once his company’s sales exceed $ 1 billion. “Now Paytm operates Japan’s largest payment system in a joint venture with a Japanese company. Later we will go without a partner, ”he said.

Earlier this month, Paytm Chief Financial Officer (CFO) Madhur Deora announced that his company is ready to offer Bitcoin services when crypto assets become legal in India.

The Indian government is currently pushing for cryptocurrency legislation. A cryptocurrency bill is expected to be presented and passed during the winter session of parliament starting next week. The bill provides for a ban on private cryptocurrencies with a few exceptions. However, the bill was not made public and there have been conflicting reports from India about the contents of the bill.

What do you think of the Paytm founder’s comments? Let us know in the comment section below.

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Crypto is here to stay and is going mainstream in 5 years - regulating Bitcoin News

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