Paytm Founder: Cryptocurrency Will Be Mainstream In 5 Years

Vijay Shekhar Sharma, Founder and CEO of Paytm, said at a virtual conference organized by the Indian Chamber of Commerce (ICC) on Thursday (November 25th) that cryptocurrency was born and is the answer. Silicon Valleys word for Wall Street.

Vijay Shekhar Sharma – Founder of Paytm

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

“I’m very positive about crypto. It’s basically crypto-based and will be mainstream technology in a few years’ time, just like the internet is now a part of everyday life, “Sharma said, admitting that cryptocurrency is currently used speculatively:

“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 cryptocurrencies. However, he stressed that cryptocurrencies will not replace state currencies such as the Indian rupee.

Sharma also said Paytm will roll out in developed countries if its company’s sales exceed $ 1 billion.

Earlier this month, Chief Financial Officer (CFO) Madhur Deora announced that Paytm is ready to offer Bitcoin services if the cryptocurrency is legal in India.

The Indian government is currently promoting the regulation of cryptocurrencies. The cryptocurrency law is to be presented and passed in the winter session of parliament from next week. It tries to ban private cryptocurrencies with a few exceptions. However, the bill has yet to be published and there have been mixed reports of its content.

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