India Cryptocurrency Committee Taps Fintech Entrepreneur Ajeet Khurana as CEO
- Mr. Khurana has a long and storied career spanning multiple industries.
The Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term and Cryptocurrency Committee of India (BACC), the country’s self regulator that works with stakeholders in the government and industry bodies, has appointed Ajeet Khurana as CEO of the business incubator at IIT Bombay, advisor to Kalaari Capital and ii5 Ventures among others.
This is exciting news for blockchain enthusiasts in India as Mr. Khurana has been a familiar face in the national startup scene since 1993.
Discover credible partners and premium clients at China’s leading finance event!
This news is quite important, considering the unclear stance over cryptocurrency in India, and the recent knee-jerk actions by banks in terms of closing the bank accounts of some cryptocurrency exchanges. The nation’s industry participants expressed their disappointment as they were hoping for some form of a legislation to regulate the activities of local exchanges.
Mr. Khurana has a long and storied career spanning multiple industries. He had previously worked with various incubators, accelerators, startup events, entrepreneur clubs and social media platforms, besides National Entrepreneurship Network (NEN).
As an angel investor, Khurana invested in over a dozen startups across several areas like education, e-commerce, software, internet and internet-enabled services and mobile. His portfolio companies include Rolocule Games, United Mobile Apps, Karmic Lifesciences and Carve Niche Technologies Pvt. Ltd.
Commenting on his appointment, Ajeet Khurana said: "BACC propels digital financial innovation by promoting blockchain technology, digital assets, and cryptocurrency. We will use advocacy, outreach, best practices and standards, and customer education to drive robust and healthy growth of this sector. Given our strength in the information technology and financial services, I have no doubt that India can take a leadership position in transforming money and financial institutions."
He added: "The recent knee-jerk actions by few banks in terms of closing bank accounts of some cryptocurrency exchanges has led to hardship to these citizens. It also created obstacles for exchanges in being able to carry out business. In the past, RBI has issued warnings and consumer education statements about Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. BACC welcomes RBI's actions and regard them as measured and well-thought out. It is our understanding that RBI has not asked banks to close accounts of any cryptocurrency exchanges. We invite banks to follow in the footsteps of RBI, understand this emerging sector, recognize the harmful effects of their knee-jerk reactions, and only then decide their course of action."
The Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term and Cryptocurrency Committee of India (BACC), the country’s self regulator that works with stakeholders in the government and industry bodies, has appointed Ajeet Khurana as CEO of the business incubator at IIT Bombay, advisor to Kalaari Capital and ii5 Ventures among others.
This is exciting news for blockchain enthusiasts in India as Mr. Khurana has been a familiar face in the national startup scene since 1993.
Discover credible partners and premium clients at China’s leading finance event!
This news is quite important, considering the unclear stance over cryptocurrency in India, and the recent knee-jerk actions by banks in terms of closing the bank accounts of some cryptocurrency exchanges. The nation’s industry participants expressed their disappointment as they were hoping for some form of a legislation to regulate the activities of local exchanges.
Mr. Khurana has a long and storied career spanning multiple industries. He had previously worked with various incubators, accelerators, startup events, entrepreneur clubs and social media platforms, besides National Entrepreneurship Network (NEN).
As an angel investor, Khurana invested in over a dozen startups across several areas like education, e-commerce, software, internet and internet-enabled services and mobile. His portfolio companies include Rolocule Games, United Mobile Apps, Karmic Lifesciences and Carve Niche Technologies Pvt. Ltd.
Commenting on his appointment, Ajeet Khurana said: "BACC propels digital financial innovation by promoting blockchain technology, digital assets, and cryptocurrency. We will use advocacy, outreach, best practices and standards, and customer education to drive robust and healthy growth of this sector. Given our strength in the information technology and financial services, I have no doubt that India can take a leadership position in transforming money and financial institutions."
He added: "The recent knee-jerk actions by few banks in terms of closing bank accounts of some cryptocurrency exchanges has led to hardship to these citizens. It also created obstacles for exchanges in being able to carry out business. In the past, RBI has issued warnings and consumer education statements about Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. BACC welcomes RBI's actions and regard them as measured and well-thought out. It is our understanding that RBI has not asked banks to close accounts of any cryptocurrency exchanges. We invite banks to follow in the footsteps of RBI, understand this emerging sector, recognize the harmful effects of their knee-jerk reactions, and only then decide their course of action."