Crypto is here to stay and will become mainstream in 5 years – Bitcoin News

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The founder of Paytm, a leading digital payments company in India, is “very positive about crypto.” Noting that cryptocurrency is here to stay, he expects it to become mainstream technology in a few years.

Paytm Founder “Very Positive About Crypto”

Vijay Shekhar Sharma, the founder of Paytm, told a virtual conference hosted by the Indian Chamber of Commerce (ICC) on Thursday that cryptocurrency is here to stay, PTI reported. He added that crypto is Silicon Valley’s response to Wall Street.

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

Sharma was of the opinion:

I am very positive about crypto. It is fundamentally crypto-based and will be the dominant technology in a few years like the internet which is (now) a part of everyday life.

The founder of Paytm admitted that the cryptocurrency is currently used in a speculative way, elaborating:

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

Sharma believes people will realize what the world would be like without crypto. However, he stressed that crypto will not replace sovereign currencies like the Indian rupee.

The founder of Paytm also said that once his company’s turnover exceeds $ 1 billion, Paytm will be launched in developed countries. “Now Paytm in a joint venture with a Japanese entity manages Japan’s largest payment system. Later, we will go without a partner, ”he shared.

Earlier this month, Paytm Chief Financial Officer (CFO) Madhur Deora indicated his company was willing to offer bitcoin services if crypto assets became legal in India.

The Indian government is currently pushing for cryptocurrency legislation. A cryptocurrency bill is expected to be presented and passed in the winter session of Parliament which begins next week. The bill aims to ban private cryptocurrencies with a few exceptions. However, the bill has not been released and there have been conflicting reports from India regarding the content of the bill.

What do you think of the comments of the founder of Paytm? Let us know in the comments section below.

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