Though bitcoins are yet to gain a significant traction as a digital currency in India, they have evoked a lot of interest in the country recently with close to 52,000 software downloads and a total of 80,000 bitcoin wallets being made operational in a short span of time. With the emergence of a clutch of startups in the space, bitcoins are gaining a foothold in the Indian payments ecosystem.
This happens against the backdrop of the government’s push towards establishing a cashless economy with RBI governor Raghuram Rajan saying bitcoins can provide an impetus to cashless transactions. Though bitcoins are popular in countries such as the US and China, awareness regarding the digital currency has been limited in India. The situation is expected to get better with several startups beginning to work on establishing viable bitcoin exchanges and processing units for merchants.
Rising adoption of online platforms, a large unbanked population and an option to offer lower cost remittances have come together to create opportunities which investors don’t want to miss.
Against the background of the increasing momentum gained by bitcoin startups in India, Techcircle Payments Forum 2016, to be held on May 19 in Mumbai, will feature an exclusive panel titled ‘The Bitcoin Enterprise: A Viable Currency’? The panel will comprise leading experts, investors and entrepreneurs from the Bitcoin sector and they will discuss emerging trends in the space.
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The event will also feature panel discussions on:
- Emergence of New Payment Systems: How Can Traditional Players Respond?
- Mobile Wallets: Is Integration the Way Forward?
- Launch of UPI: Views from the Industry
- What’s next: Future with Digital Marketplaces.
Also watch out for Techcircle Showcase, which will provide startups with an opportunity to make an elevator pitch to a jury of experts and houseful of leading stakeholders in payments ecosystem. To nominate your startup for this session, click here.
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Send us your views, ideas and suggestions on Twitter; use our event hashtag: #TCPayments
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