CoinDCX

Exploiting India's Crypto Potential with CoinDCX

The crypto industry has made quite an impression for a technology that has only been operating for a little more than a decade. Despite this, the blockchain technology that supports the business is more important than the digital currencies traded on various exchanges. "Crypto will be the backbone of the future economy," stated Neeraj Khandelwal, co-founder of CoinDCX, India's first crypto unicorn, due to its numerous applications. For example, the market for non-fungible tokens has grown rapidly to nearly $11 billion. In addition, to facilitate the sale and purchase of original works of art, creators can use the blockchain to transfer ownership rights to buyers.

CoinDCX is at the forefront of India’s transformation to a digital economy based on blockchain technology and cryptocurrencies.

CoinDCX Wants to Build the Digital Economy:

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Mr. Khandelwal stated that if blockchain is to spawn further applications, it must continue to “be open.” It would be best if just one company did it, but that would go against the idea of decentralization. DeFi protocols, for example, are made by the people and for the people. This world segment is new to humanity and has never been mapped out or explored. This cannot be built by traditional institutions, he continued.

According to Mr. Khandelwal, India is in the best position to be a user of such innovation and make a noticeable impact by contributing to its development. This is because broadband costs are low, nearly everyone possesses a smartphone, and people in tier-2 and tier-3 cities transact online with a few taps, leading to a vast domestic client base. But, more importantly, India has brilliant minds to create and develop new technology.

“We want India to be a leader in this field. CoinDCX has ambitious goals and desires to realize the new digital economy. India is a technological powerhouse. We can have enormous dreams. We have one of the world’s top five economies. We have leverage. It would be an unrealistic goal if we came from a different section of the world or needed more resources. However, India is distinct. This is possible, Mr. Khandelwal stated with an optimistic tone.

Conclusion
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Undoubtedly, there will be obstacles. As in any industry, bad actors are a typical occurrence. Mr. Khandelwal stated, however, that instead of ignoring the technology, such concerns must be understood and addressed. And today, in India, we are more suited than ever before. These issues will not be resolved by outsiders, but by industry professionals like us.

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