Co-founder of leading Indian technology firm Infosys Nandan Nilekani has urged the authorities to assist MSMEs access funding using Bitcoin.

Prominent Indian entrepreneur and government adviser Nandan Nilekani has spoken in favour of cryptocurrencies since the authorities allegedly mulls a ban on personal electronic resources.

Nilekani is a co-founder of leading Indian technology firm Infosys and also the founding architect of this federal biometric ID system, Aadhaar.

Throughout the semester, Nilekani stood up for its liberty to use cryptocurrencies such as Bitcoin (BTC) from the nation, asserting that Indians must be permitted to get crypto within an asset category. The billionaire entrepreneur allegedly noted crypto’s usage as a store of value, representing its promising possible:

“We ought to consider crypto within an asset category and permit folks to have some crypto. Crypto as a trade medium won’t operate as quickly as UPI, that will be targeting a billion transactions every day. However, crypto has tremendous capital.”
Nilekani explained that Indian authorities will need to aid the nation’s micro, small and medium enterprises access funding through crypto.

Seeing stablecoins along with the electronic rupee, he explained,”I’m not sure we want a personal stable coin or when an electronic rupee will be great enough. We will need to check at how it helps Indians, how MSMEs can get capital utilizing bitcoins. No quantity of technology will influence anybody’s view.”

Nilekani’s remarks come amid rising doubt and uncertainty in India concerning the legal standing of crypto. Unknown sources allegedly representing Indian government officials have already been disseminating reports on an approaching crypto prohibit since ancient 2021.