<p>Fintech firm Paytm founder Vijay Shekhar Sharma on Thursday said cryptocurrency is here to stay and it is fundamentally based on cryptography, the study of secure communications techniques.</p>.<p>Speaking at an interactive session organised by ICC virtually, Sharma said crypto is Silicon Valley's answer to Wall Street.</p>.<p>"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," he said.</p>.<p>Currently, there are no particular regulations or any ban on use of cryptocurrencies in the country. Prime Minister Narendra Modi last week held a meeting on the cryptocurrencies with senior officials and indications are that strong regulatory steps could be taken to deal with the issue.</p>.<p>Sharma said it is being used in a speculative manner now. "Every government is confused. In five years, it will be the mainstream technology".</p>.<p><strong>Read | <a href="https://www.deccanherald.com/national/54-people-dont-want-cryptocurrencies-legalised-in-india-survey-1054183.html" target="_blank">54% don't want crypto legalised in India: Survey</a></strong></p>.<p>People will realise how the world was like without crypto, he claimed but added that it will not be a replacement of the sovereign currency.</p>.<p>Sharma also said once Paytm's revenue crosses $1 billion, it will be taken to the developed countries.</p>.<p>"Now Paytm in a JV with a Japanese entity is running Japan's largest payments system. Later we will go without a partner," he said.</p>.<p>Paytm, which went public this month, is driving financial inclusion among the Indians who do not have access to formal finance, he said.</p>.<p>"Paytm will reach financial services at low cost to all. Going public will help a lot as it will give access to capital and talent," he stated.</p>.<p>Sharma claimed international investors have a better understanding of Indian entities than Indian investors.</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p>Fintech firm Paytm founder Vijay Shekhar Sharma on Thursday said cryptocurrency is here to stay and it is fundamentally based on cryptography, the study of secure communications techniques.</p>.<p>Speaking at an interactive session organised by ICC virtually, Sharma said crypto is Silicon Valley's answer to Wall Street.</p>.<p>"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," he said.</p>.<p>Currently, there are no particular regulations or any ban on use of cryptocurrencies in the country. Prime Minister Narendra Modi last week held a meeting on the cryptocurrencies with senior officials and indications are that strong regulatory steps could be taken to deal with the issue.</p>.<p>Sharma said it is being used in a speculative manner now. "Every government is confused. In five years, it will be the mainstream technology".</p>.<p><strong>Read | <a href="https://www.deccanherald.com/national/54-people-dont-want-cryptocurrencies-legalised-in-india-survey-1054183.html" target="_blank">54% don't want crypto legalised in India: Survey</a></strong></p>.<p>People will realise how the world was like without crypto, he claimed but added that it will not be a replacement of the sovereign currency.</p>.<p>Sharma also said once Paytm's revenue crosses $1 billion, it will be taken to the developed countries.</p>.<p>"Now Paytm in a JV with a Japanese entity is running Japan's largest payments system. Later we will go without a partner," he said.</p>.<p>Paytm, which went public this month, is driving financial inclusion among the Indians who do not have access to formal finance, he said.</p>.<p>"Paytm will reach financial services at low cost to all. Going public will help a lot as it will give access to capital and talent," he stated.</p>.<p>Sharma claimed international investors have a better understanding of Indian entities than Indian investors.</p>.<p><strong>Watch latest videos by DH here:</strong></p>