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Crypto can bring about financial inclusion: Nandan Nilekani
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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 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 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 is 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
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