As a Bitcoin enthusiast, it is always positive to hear some good news concerning this disruptive digital currency. Mainstream media seems to be tackling Bitcoin from the ideology of it being “fake and magic internet money”, rather than doing some proper research. Luckily for all parties involved, investors are doing their due diligence before making a decision on Bitcoin. And investors in India are taking a very close look at Bitcoin right now.
Bitcoin – Global Potential For Users & Investors
One of the most interesting – and peculiar – aspects about Bitcoin is that it is beneficial to so many people in the world. That is, assuming they are willing to invest some time and effort into doing research on digital currency and comparing that information to what the current financial ecosystem is offering them.
That being said, Bitcoin is much more than just a currency. Or to be more precise, Bitcoin is not an actual currency just yet, even though you can use it to pay goods and services with it. And while many enthusiasts view Bitcoin as an actual currency, it does not adhere to all the basic principles of a currency. But that doesn’t make it less valuable on the free market either.
The main reason Bitcoin is gaining a lot of media attention is not because of its value – or lack thereof – but because of the underlying technology. Bitcoin is a protocol on top of the blockchain, an infrastructure that offers nearly endless technological advancements and possibilities we never thought possible just a few years ago.
As a result, there is a lot of interest from companies, individuals and even investors, as they all want to become a part of the “next big thing”. And, in this case, that “next big thing” seems to be blockchain technology. With more and more VC funds flowing into digital currency and Bitcoin companies, the future is looking quite bright.
Investors in India Eyeing Bitcoin
In fairness, Bitcoin has a bit of an awkward profile in India right now. Just a few weeks ago, the country’s most prominent Bitcoin exchange BTCXIndia had to shut down their operation due to an issue with their bank. Apparently, the bank suddenly decided they no longer want to deal with any company involved in the world of Bitcoin and digital currency.
The Bitcoin Alliance India – which is an alliance of all Bitcoin-related companies in the entire country – has recently been approached by an increasing number of angel investors and venture capitalists. And things seem to be moving rather swiftly in India, as one of the major VC deal could be inked within the next few weeks.
“We are looking at a bitcoin start-up right now. So far, it seems extremely interesting and in two weeks’ time we may confirm the investee,” said Sasha Mirchandani, co-founder of Mumbai Angels. “This is the first time I myself have bought bitcoins,” he said.
Such a growing interest from venture capitalists can only be a positive sign for the future of Bitcoin and digital currency in India. Rather than relying on foreign funds, Indian Bitcoin startups can now turn to their countrymen – and women to raise the required funds for their business. Interesting times are ahead in India!
Source: India Times
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