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cryptocurrency: cryptocurrency is here to stay, said paytm founder vijay shekhar sharma

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cryptocurrency: cryptocurrency is here to stay, said paytm founder vijay shekhar sharma

Highlights

  • Cryptocurrency is a currency based on cryptography
  • Crypto, an answer from Silicon Valley to Wall Street
  • Will become mainstream technology in next five years

Kolkata
Financial technology company Paytm founder Vijay Shekhar Sharma said on Thursday that despite all the objections being raised about cryptocurrency, it is going to remain a virtual currency. While addressing an ‘online’ event of the industry body Indian Chamber of Commerce (ICC), Sharma said that cryptocurrencies are actually currency based on cryptography, the study of secure communication technologies.

“Crypto is an answer from Silicon Valley to Wall Street. I’m very positive about it. In a few years it will be a mainstream technology like the Internet that has become a part of our everyday lives,” he said.

Will not be able to replace traditional currency
Preparations are underway to introduce a bill in India to regulate cryptocurrencies. Earlier, the Reserve Bank of India has also expressed deep apprehensions about the misuse of crypto. In this context, the Paytm founder said that there is confusion about this digital currency at the moment. “Every government is skeptical about it. But in the next five years it will become a mainstream technology,” he said. However, he added that cryptocurrencies will not be able to replace traditional currency.

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