India hasn't got any firm regulation on the usage of bitcoin and other cryptocurrencies. Now we've got more exchange services in India, but registered out of the country. One such company named coindcx have turned to be the first cryptocurrency unicorn. This means it is now valued above $1billion based on the investors. Massive investments have come from leading ventures like facebook Inc. co-founder Eduardo Saverin's B Capital Group, coinbase ventures, Polychain Capital, Block.one and Jump Capital. The CoinDcx founder have aimed to increase the workforce to add up more 400 employees.
He states, there is potential workforce, developers and tech population. It is the country which has got highest Mobile phone usage. Based on several factors he believes the development of cryptocurrencies and usage can be experienced good when the perfect regulations were provided by the government. It is believed that more than 100 cryptocurrency start-ups can be seen from India in the coming years.
Source :
Livemint.com
