Why Bitcoin Will Succeed in India in Just Two Years
Sandeep Goenka, co-founder of Zebpay, an app-enabled Bitcoin wallet and exchange in India, says the low penetration of plastic money will make Bitcoin succeed in the world’s second most-populated country. In an Ask Me Anything (AMA) session on Reddit on Monday, Sandeep Goenka stated: “With credit cards, you have to pay VISA/Mastercard 2-3 percent on every transaction and you get the money after a few days, and sometimes in case of a chargeback, you don't. None of these problems exist in Bitcoins.” He added that in any case: “we will have to explain - to the people - how to use a plastic....
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India is the largest remittance market in the world and in fact, the country depends on a great degree on inward remittances, more so since the global economic crisis of 2008 than ever before. This should not come as a surprise as Indians form the world’s largest diaspora, according to figures released by the United Nations. In the past five years, more than two mln have migrated abroad. In total about 15.6 mln people born in India now live abroad. According to the Wall Street Journal, Indians working abroad sent a record $72 bln in remittances to India. In the last decade, remittances....
Over 180 Fintech startups were analyzed to create this report, most of whom seem to focus on the payment sector in general. Fintech is a booming industry all over the world, and those signs are becoming apparent in India as well. With most of the startups in the region focusing on payments, and over US$1.3bn invested over the past three years, things are looking good. A recent study by Zinnov, a leading management consulting firm, shows the Fintech situation in India is well worth keeping an eye on. The majority of funding has been raised in the past three years, and the industry attracted....
India is just not that into crypto these days. Or, perhaps, not yet. Nirmala Sitharaman, India’s finance minister, revealed last month that the Reserve Bank of India will deploy a digital rupee sometime in the fiscal year 2022-2023. India will become one of the largest economies to launch a central bank digital currency if the […]
New Delhi Television Limited, one of India's largest TV networks, aired a show featuring an interview with the Governor of Reserve Bank of India (RBI), Raghuram Rajan. The show, which was titled "India Forecast," gathered students from several local universities to ask the head of India's central bank various questions about the economy. Rajan said that Bitcoin "is fascinating." "I have no doubt that down the line, we will be moving towards primarily a cashless society and we'll have some kind of currencies like this which will be at work. For us at the Reserve Bank, this may happen in 10....
According to a report by the Internet and Mobile Association of India (IAMAI) along with IMRB International, the two organizations forecast that Internet users in India are expected to reach 302 million by the end of the year. The forecast is a 32 percent increase from the 213 million Indian Internet users at the end of 2013. Currently, the ranking puts China in the first place with 600 million Internet users, with the United States at 279 million Internet users and India following closely behind and battling for second place. Reported by The Hindu news source, upon release of the report....