Smart Business Event on How MSMEs Can Profit From Crypto
Crypto, NFT and blockchain are all that
everybody is talking about. But how can MSMEs make use and profit off of this
new era of digital currency? To answer this question and several more, Business
Standard had organised a panel discussion under the Smart Business event series
with the World Trade Centre last Thursday on ‘The role of blockchain and
digital currencies in strengthening MSMEs'.
At the event, Ashish Anand, founder of WHRRL, said
“Crypto and blockchain will see a convergence of the real and crypto worlds with
the help of solutions that are bridging the gap between these two worlds.
Decentralised finance for the real world will be one such solution. This also
has the potential to bridge the Rs. 30 lac Cr. credit gap that Indian MSME
sector faces.”
Gaurav Somvanshi, CEO and Co-founder, EmerTech
Innovations Pvt Ltd, said “Blockchain technology is trying to solve, to bring
trust in our systems instead of inpiduals or organisations, has many
wide-ranging effects that go beyond currency. It is leading to the advent of
Web 3.0 where the creators will have control instead of the middlemen or
aggregators. It is leading to a more decentralised world where the people can
have a say over how things are governed and administered. And once a technology
is out there, there is no going back."
Siddharth Sogani, MD, CREBACO Global, emphasised
the immediate need for regulations to stop the brain drain of the industry
players and professionals from the country. Siddhanth stated “The government
cannot regulate decentralised cryptocurrencies, but it can regulate their use.
WEB.3, non-fungible Token (NFTs) are for the first time giving ownership to the
users, which can be the paradigm shift in the way we interact with the
internet.”
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