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25 June 2021

Infosys Co-Founder Nilekani: 'Crypto Too Energy Intensive for Payments' - Decrypt

Infosys Co-Founder Nilekani: 'Crypto Too Energy Intensive for Payments' - Decrypt


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Indian tech billionaire Nandan Nilekani thinks cryptocurrencies are too energy-intensive and volatile for payments but they “should be encouraged as an asset to be bought and sold, like a commodity.”.

Nilekani has been closely involved with the development of UPI; he was appointed to lead an advisory panel on the digital payments infrastructure by the Reserve Bank of India in 2019.

The government hasn't indicated exactly what the bill entails, but if the policymakers were to listen to Nilekani, India would treat crypto as a store of value, just like any other asset.

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