Nischal Shetty, the prominent India-based crypto enthusiast and the honorable CEO of WazirX crypto exchange, has released a chain of tweets on his official Twitter handle proclaiming massive development and investments in the Indian crypto space very soon.
Founded in 2009, cryptocurrencies have been on a success roll in the financial space all around the world. The virtual currencies have become an inevitable part of the global economy and have seen support and participation from governments across nations. India, however, has always kept a skeptic attitude towards crypto with the Reserve Bank of India, giving constant warnings to the banks for not encouraging investments in the industry. Luckily, after a long legal fight in the Supreme Court of India, the ban has been removed from the crypto domain. The spearhead is overwhelmed with the judicial decision of removing the banking ban on cryptocurrencies and consider it to be a welcoming step for the industry in the Indian subcontinent.
Due to banking ban removal, Indian crypto will now innovate
In the next 12 months we'll see hundreds of innovative crypto startups in India
It'll lead to millions of dollars worth investment in the sector
It'll lead to thousands of jobs
Time to win #IndiaWantsCrypto
— Nischal (WazirX) ⚡️ (@NischalShetty) March 10, 2020
In his tweets, Nischal affirmed that now India can play a major role in the innovation and development of the crypto industry as a whole. He opined that in the next twelve months span, the country would witness the emergence of hundreds of startups focused around crypto, which will eventually lead to millions of dollars of investments and thousands of jobs in the sector. Nischal insisted that though the Indian investors failed to participate in the crypto development in the initial phase, they can now actively indulge in the niche.
Crypto ecosystem is in the infrastructure building phase right now. Just like the Internet was in the 80s & 90s
While we did not get the opportunity to participate back then, let’s ensure India participates in the Crypto revolution 🇮🇳
Spread the word #IndiaWantsCrypto
— Nischal (WazirX) ⚡️ (@NischalShetty) March 13, 2020
Nischal stated that it is our duty to spread accurate knowledge about crypto so that we can reap the best results. He insisted that to popularize crypto, we must educate ourselves and our friends with the core terminologies involved in crypto so that they can make prudent investment decisions and not find themselves getting trapped in fake initiatives.
With banking ban reversal, everyone in India can participate in the Crypto innovation. But, we need to ensure we spread the right knowledge about Crypto.
You and I are each responsible for it
Make sure to educate & help your friends understand Crypto#IndiaWantsCrypto
— Nischal (WazirX) ⚡️ (@NischalShetty) March 14, 2020