Exclusive Part 2: Zebpay CEO talks about cryptocurrency adoption in India and the future of the field

The world of cryptocurrencies has come under multiple scanners as well as regulations, forcing the field to pull it back a bit. Despite the setbacks, many proponents have come forward to support crypto and have spoken about the advantages of digital assets.

In an exclusive with AMBCrypto, Ajeet Khurana, the Chief Executive Officer of Zebpay gave his views on India’s cryptocurrency stance as well as the future use cases of cryptocurrencies. He was asked about the possibility of a clean sweep of the cryptocurrency market in India with the upcoming general elections to which he replied that a proper forecast is difficult and would be similar to “predicting Bitcoin’s price tomorrow’.

He added that on one level everything is possible while on the other hand, the different oars have to come together and synchronize, which is extremely difficult. Khurana added:

“In the long term, things will work out and India will adopt cryptocurrencies but like cloud computing, we will enter the market but a bit late.”

Khurana further touched upon the challenges in the long term as well as a possible “10-year challenge” for the cryptocurrency market. He said:

“I don’t think a 10-year challenge is feasible but rather a 3-5 year challenge would be more plausible. Back when it started there would have been like 1000 people in the field and now the number has multiplied manifold. I want to see the increase of people as an effect and not as a periodic rise and fall. Another positive development is that the number of people forecasting the demise of Bitcoin has gone down.”

Ajeet Khurana was also of the opinion that earlier the question was always about the value whereas now even the naysayers have toned it down. According to him, more people entering the space and the belief to co-exist has been the biggest clincher over the past few years. The Zebpay CEO also admitted that the fundamental problem with the space is that solutions take time to be implemented. In his words:

“The Lightning network, for example, will still take some time to come into fore, maybe in a year or so. But a lot of things have improved since 2012. Back then buying BTC was not the easiest thing to do whereas now it has become much easier.”

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