The founder of Paytm, a major digital payment company in India, is “very active with cryptocurrencies”. Noting that cryptocurrency will continue to exist, He expects it to become a mainstream technology in a few years.

The founder of Paytm is “very positive about cryptocurrency”

According to PTI, Paytm founder Vijay Shekhar Sharma stated at a virtual conference organized by the Indian Chamber of Commerce (ICC) on Thursday that cryptocurrencies will continue to exist. He added that encryption is Silicon Valley’s response to Wall Street.

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

Sharma believes:

I am very positive about encryption. It is fundamentally based on cryptography and will become a mainstream technology in a few years, just like the Internet in daily life (now).

The founder of Paytm admitted that cryptocurrencies are currently being used speculatively and explained in detail:

Every government is confused. In five years, it will become the mainstream technology.

Sharma believes that people will realize what a world without cryptocurrency will be like. However, he emphasized that encryption will not replace sovereign currencies such as the Indian rupee.

The founder of Paytm also stated that once his company’s revenue exceeds $1 billion, Paytm will be launched in developed countries. “Now, a joint venture between Paytm and a Japanese entity is running Japan’s largest payment system. Later we will have no partners,” he shared.

Earlier this month, Paytm Chief Financial Officer (CFO) Madhur Deora stated that his company is Open worship If the encrypted assets are legal in India, provide bitcoin services.

The Indian government is currently pushing for cryptocurrency legislation. A cryptocurrency bill is expected to be introduced and passed during the parliamentary winter meeting starting next week. The bill aims to ban private cryptocurrencies, but there are some exceptions.However, the bill has not yet been announced, and there are already Conflicting reports The content of the bill from India.

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