Several CEO/CXO/Founders from FIAKS Community participated in the discussions:
- Mr Shashank Kumar, Co- Founder at Razorpay
- Mr Probir Roy, Co-founder, Paymate
- Mr Arun Tanksali, Co-founder & CTO, Nearex
- Mr Muthu Krishnan, General Manager- Merchant Acquisition at India Transact Services Ltd
- Mr Kamonasish Aayush Mazumdar, Chief Marketing Officer, MeraEvents
- Mr Vishweshwaran R, Associate Director- IDFC Bank
- Mr Avro Mukerji, Investment counselor-NRI Burgundy, Axis Bank
- Mr Vikas R Panditrao, Advisor, Forum of Industry Academic Knowledge Sharing(FIAKS)
- Several other CEO/CXO Bankers & Fintech professional on FIAKS Forum
Couple of weeks back Economic Times had published a news on India’s first bitcoin ATM being seized and police arrested 37 year old Mr Harish BV from Tumakuru who is co-Founder of Unocoin Technologies for running bitcoin ATM Kiosk. This news sparked off debate in the community of intellectuals on
Question 1: can someone launch a product when the regulator directive is clearly against it?
Question 2: Does banning cryptocurrency mean blockchain is banned?
Many elite Fintech professional were supporting the co-founder of this bitcoin ATM. A leading member of the community responded that cryptocurrency was not banned explicitly. However, the regulator was clearly not in favour of it. They stopped short of fully banning it. Individuals dealing in OTC are not criminals but an ATM facilitating the same by a company take things up a notch. This is more of a cultural issue. In India, anything that is not explicitly allowed is considered illegal. While in the US anything not explicitly banned is considered legal. This helps innovation thrive in new areas. In future though, we will probably be a net importer of blockchain technology.
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