Cryptocurrencies Are Here To Stay - Paytm Founder.

Cryptocurrencies Are Here To Stay - Paytm Founder.

2021-11-28 | Mike Hallen

Cryptocurrencies Are Here To Stay - Paytm Founder.

Cryptocurrencies, according to Paytm founder Vijay Shekhar Sharma, are here to stay and are essentially founded on cryptography, the study of secure communications systems. Sharma, speaking at an ICC virtual interactive session, described crypto as Silicon Valley's answer to Wall Street. "I'm a big believer in cryptocurrency. It is basically built on encryption and, like the internet, will become a popular technology in a few years," he said. There are currently no specific restrictions or prohibitions in place in the nation regarding the usage of cryptocurrencies. Last week, Prime Minister Narendra Modi met with senior officials to discuss cryptocurrencies, and there are signals that severe regulatory measures may be implemented to handle the problem. According to Sharma, it is currently being utilized on a speculative basis. "Each and every government is befuddled." Sharma also stated that after Paytm's revenue reaches $1 billion, the company would expand to developed countries. "Paytm now runs Japan's largest payment system in a joint venture with a Japanese company. We'll travel without a companion later "he stated Paytm, which went public last month, is improving financial inclusion among Indians who do not have access to formal funding, according to him. "Paytm will provide financial services to everyone at a minimal cost. Going public will be extremely beneficial since it will provide access to cash and skills "he explained. International investors, according to Sharma, have a greater grasp of Indian entities than domestic investors.

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