Infosys chief Nandan Nilekani came out in support of Cryptocurrency, explained the reason

New Delhi, 2/12: Infosys Chairman Nandan Nilekani said that crypto assets are worth considering and can be used to bring about greater financial inclusion. Nilekani said this at the Reuters Nect Conference.

 

Financial inclusion means providing financial services to the backward and low income people of the society. Along with this, those people should get these services at an affordable cost.

 

Nandan Nilekani, who founded the IT company Infosys in 1981, said, “Cryptocurrencies as an asset have a role, but this currency has to comply with all laws and ensure that it does not enter the financial market. Don’t become a back door for money laundering.”

 

Nilekani said that crypto is not suitable for transactions due to high transaction costs and volatility.

 

 

 

Nandan Nilekani’s comments come at a time when the Indian government is planning to legalize the business of cryptocurrencies and classify crypto as an asset class. The government has said that it will only allow certain cryptocurrencies to promote the underlying technology and its use.

 

Surely this statement of Nilekani will serve as a positive sign to those investing in crypto. Because after the action of the government, there is a stir in the Indian crypto market at this time.

 

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Nandan Nilekani is a legend in the tech world. Nilekani was the chairman of UIDAI (Unique Identification Authority of India) and cabinet minister in the Manmohan Singh government in 2009. The credit for bringing the Aadhaar number in India goes to him. That’s why Nilekani’s statement about crypto makes a lot of sense.