India's Progressive, Yet Cautious Crypto Stance To Bolster The Industry: Raj Chowdhury

PALO ALTO, Calif., Dec. 21, 2021 /PRNewswire-PRWeb/ -- Noted blockchain pioneer, keynote speaker, and HashCash CEO Raj Chowdhury is optimistic about the Indian government's strategies on blockchain and cryptocurrency.

India as a nation has the highest number of crypto owners worldwide. The country was ranked second in Chainalysis's 2021 Global Crypto Adoption Index. However, possible crypto ban speculations lead to panic-selling making an impact on the already volatile crypto markets. The recently declared National Blockchain Strategy provides relief to not only digital asset owners, but also to the businesses utilizing blockchains and cryptocurrencies.

"With rapid digitalization and adoption of new-age technologies, India is consistently expediting its growth as a potential superpower. It makes sense for the progressive nation to make cautious moves with blockchain technology and cryptocurrency," remarked Chowdhury.

The extensive 52-page report was published in December this year by the Ministry of Education and Information Technology. It highlights the Indian government acknowledging the importance of blockchain technology and its potential incorporation in several sectors for optimized digital service delivery. The country plans to build a National Blockchain Framework and is likely to nominate SEBI, the national agency for market regulation, to oversee cryptocurrencies as well.

"Blockchain's shared ledger technology empowers people in ways unimaginable. The elimination of intermediaries creates room for better investment opportunities and an overall boost in functional efficiency."

Raj Chowdhury leads global blockchain development company HashCash Consultants and a worldwide digital assets exchange PayBito. He has voiced his opinions on the need for smart financial planning and promoting financial literacy at an early age. He has previously spoken against nations attempting to block the cryptocurrency and forewarned the possible implications. A firm believer of a decentralized economy, he has also highlighted the merits of balancing public and private crypto assets.

The report signals the green light for the development of blockchain development all across India. Blockchain development companies have been instrumental in service reformation across several domains such as finance, fintech, supply chain management, gaming, and more. All things considered, the time is right for investors and entrepreneurs seeking business opportunities with blockchain development and growth.

• About Raj Chowdhury:

Raj Chowdhury is the Managing Director of HashCash Consultants and PayBito, a global crypto exchange. Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to Economic Times, Business World, CNNMoney and advises industry leaders in the adoption of Blockchain. Author of the book 'The Dark Secret of the Silicon Valley', Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.

Media Contact

COLEEN F, Hashcash Digest, +14159662907, [email protected]

SOURCE HashCash