The founder of Paytm, a major digital payment company in India, is “very positive about crypto.” Noting that cryptocurrency is here to stay, he expects it to become a mainstream technology in a few years.
Paytm Founder Is ‘Very Positive About Crypto’
Vijay Shekhar Sharma, the founder of Paytm, said at a virtual conference organized by the Indian Chamber of Commerce (ICC) Thursday that cryptocurrency is here to stay, PTI reported. He added that crypto is Silicon Valley’s answer to Wall Street.
Paytm is an Indian multinational technology company that specializes in digital payments. The company completed an initial public offering (IPO) last week. In its IPO filing, Paytm revealed that it has 337 million registered consumers and 22 million merchants.
I am very positive about crypto. It is fundamentally based on cryptography and will be the mainstream technology in a few years like the internet which is (now) part of daily life.
The Paytm founder admitted that cryptocurrency is currently being used in a speculative manner, elaborating:
Every government is confused. In five years, it will be the mainstream technology.
Sharma believes that people will realize how the world would be without crypto. However, he stressed that crypto will not replace sovereign currencies, like the Indian rupee.