Category Archives: Delhi

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India Crypto Enthusiasts Protest as Supreme Court Delays Bank Case

Tron Founder Hints at Ethereum Collaboration Copy

In the month of March, the streets of Delhi, Mumbai, Hyderabad, and Bangalore vibrated as thousands of cryptocurrency and blockchain enthusiasts expressed their distaste of the industry’s situation in the locale.

According to reports, Blockchained India co-founder and observer of the protest Akshay Aggarwal, opined that “the street demonstrations are occurring mainly because the whole crypto space represents a world different than we currently live in — a more efficient one, a more evolved one”, which apparently, as with other enthusiasts in other nations are striving for inclusion in the emerging economy. During the protest, the crowds that gathered in Delhi didn’t mind challenging the authority, and those in Mumbai were more about showing how valuable the blockchain is since they took out time for the protest. Meanwhile, in Hyderabad, citizens were more open to discussions about the pros and cons of the emerging industry.

We ain’t stopping! It’s working and we are all set to get more crypto folks involved. Let’s together contribute to the cause. #IndiaForOrAgainstCrypto #IndiaDappFest #IDF @NischalShetty @Shaanush @mohitmamoria @DesiCryptoHodlr @ThatNaimish

— Akshay Aggarwal (@howdy_akshay) March 26, 2019

Though the industry is completely different from the current economic standards and status quo, it is clear that the eventual impact of widespread adoption is currently unknown. Aggarwal observed:

“None of us is able to figure out if it would directly do more positive impact than the negative… We do not understand it completely, especially its multifold effects, and we always fear what we don’t understand.”

It’s about a year since the conflict of interest between the emerging crypto industry and the central bank of India – the Reserve Bank of India (RBI), and cryptocurrency enthusiasts are becoming wary of the undue delay in the court’s ruling on the decision of the RBI’s effective ban of custodial services to crypto related ventures. It appears the RBI may be using delay tactics to further their goal of stalling the growth of the industry when the Counsel sought a regular day for the hearing.

However, despite the current outcome, cryptocurrency enthusiasts remain optimistic as key players striving for regulation and adoption had provided somewhat positive sentiments. One of which is a general consensus among members of the inter-ministerial committee that cryptocurrency cannot be dismissed as completely illegal. More so, in late February, the Supreme Court had issued a 4-week deadline to the Union of India to come up with a regulatory framework.

Despite several ongoing crypto-related discussions in India, there appears to be no apparent headway for the industry at the moment, with the Court’s postponement only agitating the industry more. Meanwhile, the possibility of the destabilization of the rupee and the financial system became a major concern should cryptocurrency be legalized. However, the government has considered seeking external legal assistance to put the dilemma to rest.


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PR: Who Said What at WIRE SUMMIT 2018

Wire Summit 2018

Bitcoin Press Release: The premier blockchain investment event, “WIRE SUMMIT 2018” , which took place last week in Delhi, proved to be a great success, with interest and demand in blockchain opportunity undiminished even in the current market climate.

Dec 6th, 2018, New Delhi, India – Wire Summit 2018 has concluded. Organized by one of the most recognized blockchain news platforms, BTCWIRES, in partnership with Vizag Fintech Valley, Vizag, Government of Andhra Pradesh, it has shown itself to be one of the world’s and region’s most subscribed blockchain investment event, featuring more than 50 speakers and over 25 companies delivering the freshest emerging opportunities to over 1,000 investors.

Here is a highlight of what some of the industry’s biggest names had to say at the event:

JA Chowdhury, the special chief secretary and IT adviser to the chief minister of Andhra Pradesh, talked about the role of government in bringing blockchain in the mainstream. Chowdhury raised the question “how can we protect the digital assets and focus on a Blockchain and Digital India?”.

Dr Dhiren Patel, Director, Veermata Jijabai Technological Institute, Mumbai discussed blockchain beyond cryptocurrencies. He said, “Crypto was supposed to be independent of the institution so that it’s value does not vary or [is] volatile.”

A brilliant panel discussion moderated by Abhishek Kishore Gupta, Partner at KPMG India, on “A Decentralized Future”. They outlined adviser, network and capital as key ingredients of a successful blockchain project with industry experts Giacomo Arcaro and Giovanni Casagrande, followed by an interactive Q/A session.

Investors Utsav Somani and Mohak Agarwal discussed in a panel moderated by Daniel Steeves about investments in blockchain. The panel had an active session throughout the discussion. Somani, Partner at Angellist, commented during the discussion, “We are at a level in the blockchain, is same as early internet before the introduction of https.”

Niki Ariyasinghe, Partner at R3, talked about the power of blockchain for the enterprise sector. He focused on the discussion over the problem of the industry by saying, “What I see is NOT what you see.” His session was followed by an informative Q/A session.

The AMA session with Simon Cocking and the informative note from Tim Draper were other key attractions at the event.

Cathy Guo, co-founder of Dunya Labs, discussed the three phases of Mass Adoption, where she focused her speech on application-specific blockchains, the general purpose of concept and the decentralized apps. She also discussed cryptocurrency and blockchain having an edge.

An interactive panel discussion moderated by Varun Sethi discussed blockchain regulations in India along with industry experts Anshul Dhir, Opinder Preet Singh, and Ankit Gaur. They were actively answering queries that were being asked by the audience.

The active participation from some of the innovative startups was also seen at the event. Projects like BIENT, Dunya Labs, Farm2Kitchen, ELAD, DGram, and Intrachain were some of the startups that presented their projects and ideas at the event.

The central concept of WireSummit 2018 was to bridge the gap between blockchain startups and investors, and it is accomplished because of the active participation by everyone present at the event. The networking and the interactions were actively facilitated during the event and covered by many publications as well.

BTC Wires is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

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