Crypto can bring about financial inclusion, Infosys chair says
Information about Crypto can bring about financial inclusion, Infosys chair says
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By Una Galani and Sankalp Phartiyal
MUMBAI (Reuters) -Crypto assets are worth considering and can be used to bring about more financial inclusion, Nandan Nilekani, chairman of software services exporter Infosys , said at the Reuters Next Conference https://reutersevents.com/events/next on Wednesday.
“There is a role for crypto as assets but they obviously will have to follow all the laws and make sure that it doesn’t become a backdoor for money laundering … they have to use that [as] an entry point to get lot of young people into financial markets,” said Nilekani, who co-founded Infosys, India’s No.2 IT company in 1981.
Crypto https://www.reuters.com/business/future-of-moneyis not suitable for transactions because of its high transaction costs and volatility, added Nilekani, a well-networked technocrat who also played a key role in creating India’s 1.3 billion-strong biometric database.