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Tuesday, May 17, 2022
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What Indian Business Tycoons Have To Say About Cryptocurrencies

Business tycoons are giving their opinions over time on cryptocurrency, as this new technology becomes clearer to the public. While many tycoons are in favour of cryptocurrency, a few have never invested in crypto so far.

What Indian Business Tycoons Have To Say About Cryptocurrencies
What Indian Business Tycoons Have To Say About Cryptocurrencies
outlookindia.com
2021-12-04T14:23:48+05:30

Various business personalities have multiple shades of opinions on the ongoing debate on cryptocurrency. Recently, big business tycoons of the country including Mukesh Ambani, Chairman and Managing Director, Reliance Industries,  Nandan Nilekani,  chairman of Infosys have expressed their thoughts on cryptocurrency. 

While speaking at Infinity Forum hosted by International Financial Services Centres Authority (IFSCA) on Friday, Mukesh Ambani said that he believes in blockchain technology and it will redefine the financial world, reports ET Now.

He further added that India is going through a digital-first revolution and the country is on the verge of building a digital society. "Blockchain is the technology I believe in. Blockchain will redefine the financial world. Look forward to cryptocurrency and data protection bills," ET Now cited Ambani as saying.

With a data privacy bill and a cryptocurrency bill in the pipeline, Ambani welcomed the moves by the Narendra Modi government and praised the progress made so far.

While addressing Reuters Next Conference on Wednesday, December 1, Infosys chairman Nandan Nilekani said that crypto assets could help promote financial inclusion. "If we have a very well regulated and legal, lawful crypto market, not as currency but as assets, and a lot of young people build innovative applications around that then these young people could create a wave of global companies," said Nilekani.

Paytm founder and CEO Vijay Shekhar Sharma has confirmed that the digital payments platform will venture into cryptocurrency once it's made legal in India. He mentioned that just like the internet, the underlying technology of cryptocurrency will soon be mainstream in the upcoming years while addressing the annual session and AGM of the Indian Chamber of Commerce virtually on Thursday, November 25.

"There are obligations of certain things to be digitised at a next level. Can currency be one of them? The answer is instead of currency, there would be more types of assets in the world," said Sharma.

Anand Mahindra, chairman of Mahindra Group on November 20 clarified about his investment in cryptocurrency, stating that he has “not invested a single rupee in cryptocurrency,” as reported by IANS.

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