By 2030, India's crypto-tech industry will be worth $180 Billion.

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By 2030, India's crypto-tech industry will be worth $180 Billion. permalink

According to a recent report, the Indian tech business that facilitates cryptocurrency will be worth $241 million by 2030, with MarcetCap of $180 Billions enter image description here By then, India's crypto-tech business will have the capacity to generate over 800,000 employment and $184 billion in economic value.

According to a survey released by the National Association of Software and Services Companies (Nasscom) in collaboration with cryptocurrency platform WazirX, the crypto-tech business in India has the potential to produce over 800,000 employment by that time, with an economic value of $184 billion.

The rise of crypto-technology permalink

According to the article, the appeal of cryptocurrencies' potential profits has attracted many young Indian investors. Despite the country's legislative instability, this appeal has resulted in the exponential expansion of India's crypto-tech industry.

“India provides CryptoTech with the most unique ecosystem to play a transformative role in strengthening key priority areas like healthcare, safety, digital identification, trade and finance, and remittances, as well as help in addressing pandemic-induced challenges,” said Debjani Ghosh, president of Nasscom. "A consultative and helpful regulatory approach to Crypto technologies can enable India's CryptoTech ecosystem and innovation develop." enter image description here

In India, the industry currently employs 50,000 people, with over 230 companies and 150 proofs of concept and projects. According to the report, Indian individual investors have put $6.6 billion into crypto assets.

The seven important themes driving the growth and adoption of crypto-tech in India, according to the report, are Bitcoin, Smart Contracts, Decentralized Finance, The Wave of Tokenization, Non-Fungible Tokens, Rise of CryptoTech Capital, and Central Bank Digital Currencies.

Currently India has 210 million investors compared to US's 30 million approx. As most of the companies and exchange's are utilising Digital marketing at a rapid rate to promote Bitcoin and their exchange's this lead to massive adoption of Crypto and Bitcoin in India

Editor's Note: permalink

Though India is adopting Crypto at an exponential rate most of them don't know how exactly Bitcoin and other crypto currency (Blockchain) works, due to the volatile price of Crypto's most of the campaign's or advertising on Bitcoin seems like a FOMO (Fear of missing out). For example one campaign line from a certain company says " Vo tho thik hai, magar Bitcoin liya kya" it means " its fine but due you buy the Bitcoin" It just tells us that they are not spreading the knowledge of Bitcoin or Blockchain rather fomoing the people, and winning the competition.

But nonetheless we can say that already 210 million people are invested in crypto currency and it looks like its going to be increase in the future and lately NFT's on cricket and bollywood are in demand in India.