“Positive crypto regulations will generate wealth and millions of jobs in India,” says Nischal…

“Positive crypto regulations will generate wealth and millions of jobs in India,” says Nischal Shetty, CEO of crypto exchange

In the first Financial Fox episode of 2019, crypto PR guru Stefania Barbaglio interviewed Nischal Shetty, Founder and CEO of WazirX, the most trusted crypto exchange in India. Shetty talks about the country’s ever-growing crypto scene and his online campaign to raise awareness about the importance of setting up a welcoming regulatory framework which will allow cryptocurrencies to improve the economic conditions of the Indian population.

Founded in 2018, WazirX is quickly expanding, at a 15% growth a month according to Shetty. WazirX is a Cryptocurrency exchange with an advanced trading interface and features to buy, sell and trade cryptocurrencies in India. It’s an exchange with a Live Open Order Book system that lets users trade digital assets like Bitcoin, Bitcoin Cash, Litecoin, Dash & many more.

The impressive growth of WazirX is in reality a reflection of the expansion of the crypto revolution in India. “The excitement around crypto in India is huge,” says Shetty, as he believes that there are collectively about 5 to 6 million cryptocurrency users in India, with highest concentration being among the younger population, who see crypto as the future of finance.

The current scene in India is not favourable for cryptocurrencies, although they have not been banned or made illegal by the government. The real problem now is lack of clear guidelines, as the Indian government has not been very forthcoming about where they stand in terms of cryptocurrencies, he says.

The Reserve Bank of India (RBI) prohibited banks from enabling transactions related to cryptocurrencies and crypto exchanges from having bank accounts, but despite the banking ban, manyIndians are trading on crypto exchanges. In December 2018, WarziX reported a record in trading volumes.

Rumour has it that the government will release a draft for crypto policy in February, so with over 50k followers on social media, Shetty recently started the campaign #IndiaWantsCrypto to catch the attention of India’s Finance Ministry around cryptocurrency regulations: “We need positive regulations to allow Indians to be part of the crypto revolution that is happening around the world.”

More than just calling for official regulations, the campaign aims to show the advantages that cryptocurrencies can bring to people’s lives, especially in emerging economies like India.

India has the second-largest unbanked population in the world — over 190 million Indians over the age of 15 don’t have a bank account — but has one of the largest numbers of smartphones in the world. Cryptocurrencies act at the heart of this problem: “Internet penetration is faster and higher in India — and when you have internet you have access to cryptocurrencies.”

The blockchain space offers many opportunities for youth; Shetty believes that implementing positive regulations and allowing Indian people to integrate the digital currency economy will bring wealth and millions of jobs, creating a big boost for the national economy: “Over the last 10–15 years, the IT boom created possibly around 4 million jobs in India. This same effect can be replicated now in the crypto revolution with positive regulations in place,” said Shetty.

Talks about crypto regulations have gained more attention worldwide. Recently, two major European authorities have publicly called for better assessments of crypto technology and its impacts in order to develop appropriate regulations.

More developments are expected soon in the crypto regulatory space in India. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel FinancialFox.

“Positive crypto regulations will generate wealth and millions of jobs in India,” says Nischal…

“Positive crypto regulations will generate wealth and millions of jobs in India,” says Nischal Shetty, CEO of crypto exchange

In the first Financial Fox episode of 2019, crypto PR guru Stefania Barbaglio interviewed Nischal Shetty, Founder and CEO of WazirX, the most trusted crypto exchange in India. Shetty talks about the country’s ever-growing crypto scene and his online campaign to raise awareness about the importance of setting up a welcoming regulatory framework which will allow cryptocurrencies to improve the economic conditions of the Indian population.

Founded in 2018, WazirX is quickly expanding, at a 15% growth a month according to Shetty. WazirX is a Cryptocurrency exchange with an advanced trading interface and features to buy, sell and trade cryptocurrencies in India. It’s an exchange with a Live Open Order Book system that lets users trade digital assets like Bitcoin, Bitcoin Cash, Litecoin, Dash & many more.

The impressive growth of WazirX is in reality a reflection of the expansion of the crypto revolution in India. “The excitement around crypto in India is huge,” says Shetty, as he believes that there are collectively about 5 to 6 million cryptocurrency users in India, with highest concentration being among the younger population, who see crypto as the future of finance.

The current scene in India is not favourable for cryptocurrencies, although they have not been banned or made illegal by the government. The real problem now is lack of clear guidelines, as the Indian government has not been very forthcoming about where they stand in terms of cryptocurrencies, he says.

The Reserve Bank of India (RBI) prohibited banks from enabling transactions related to cryptocurrencies and crypto exchanges from having bank accounts, but despite the banking ban, manyIndians are trading on crypto exchanges. In December 2018, WarziX reported a record in trading volumes.

Rumour has it that the government will release a draft for crypto policy in February, so with over 50k followers on social media, Shetty recently started the campaign #IndiaWantsCrypto to catch the attention of India’s Finance Ministry around cryptocurrency regulations: “We need positive regulations to allow Indians to be part of the crypto revolution that is happening around the world.”

More than just calling for official regulations, the campaign aims to show the advantages that cryptocurrencies can bring to people’s lives, especially in emerging economies like India.

India has the second-largest unbanked population in the world — over 190 million Indians over the age of 15 don’t have a bank account — but has one of the largest numbers of smartphones in the world. Cryptocurrencies act at the heart of this problem: “Internet penetration is faster and higher in India — and when you have internet you have access to cryptocurrencies.”

The blockchain space offers many opportunities for youth; Shetty believes that implementing positive regulations and allowing Indian people to integrate the digital currency economy will bring wealth and millions of jobs, creating a big boost for the national economy: “Over the last 10–15 years, the IT boom created possibly around 4 million jobs in India. This same effect can be replicated now in the crypto revolution with positive regulations in place,” said Shetty.

Talks about crypto regulations have gained more attention worldwide. Recently, two major European authorities have publicly called for better assessments of crypto technology and its impacts in order to develop appropriate regulations.

More developments are expected soon in the crypto regulatory space in India. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel FinancialFox.

Golden Saint Technologies launches new partnership at leading ICT Conference in Southeast Asia

Golden Saint Technologies (GST), the London-listed integrated information and communication technology infrastructure solutions provider, has announced partnership with P2 Mobile Technologies to provide Wireless Mesh, a fast and advanced set of ICT tools addressing the growing needs of the Smart City market.

Smart Cities are designed to address and reduce structural inefficiencies, as well as to prepare urban areas for future growth and the coming generations. The aim of hyperconnected, smart cities is to deploy technologies to make optimal use of resources, increase social inclusion and create a better environment.The engineering behind the structure of smart cities combines multiple digital tools such as location sensing, cloud computing and mobile connectivity.

The global ICT market has grown consistently over the last decade. By next year, forecasts show that the global ICT market, including TV and video services, will be worth a total of more than 4.4 trillion euros.The Asia-Pacific region, where the GST hub is located, tops the tables on smart city strategies, making up 42 percent of global investments in smart city technology initiatives.

Research by McKinsey estimates that smart-mobility applications could create up to $70 billion in value, while forecasts suggest that by 2023 the smart cities market will be a US$7.6 billion Telco opportunity for mobile service providers (MSP) and network vendors.

The company announced the new product at the 2018 BICSI Southeast Asia conference in Singapore, with focus on ‘Smart Innovations: Infrastructure to Empower Future Technologies’.

BICSI influences the vision of advancing the global information and communications technology (ICT) industry by connecting ICT professionals with the solutions that inspire revolutionary ICT advancements.

The conference gathered prominent firms within the ICT space and provided a valuable avenue for networking and partnership opportunities: “Through BICSI and other associations, we have good contacts with local ICT installers and system integrators throughout the region,” commented Garies Chong, CEO of GST and BICSI Southeast Asia District Chair.

“This means it is straightforward for GST to reach out to active local partners in the Southeast Asia territories, and to quickly identify and execute on local Wireless Mesh sales opportunities.”

GST is strategically positioned in the ICT (Information and Communication Technology) market and designed to take its place in this sphere. Although the company operates worldwide, its hub is in Asia, where the ICT industry is brewing and expanding at a fast pace, fuelling multiple opportunities for GST.

Smart Cities: Deploying disruptive technologies to build the future of urban spaces

New technologies are emerging to help build cities that are prepared for sustainable development, population growth and widespread internet access. Such developments address some of the most fundamental problems in urban geography such as housing, infrastructure, traffic, overcrowding, support of increasing population growth and sustainable living for future generations.

Governments in some parts of the world are embracing disruptive technologies such as Internet of Things (IoT), artificial intelligence (AI) and blockchain to create effective solutions for the challenges faced by megacities.

As the global population will continue to grow, urbanisation is expected to add 2.5 billion people to cities across the globe over the next 30 years. The effective use of data and digital tools can provide smart solutions to problems arising from rapidly expanding populations.

The engineering behind the structure of smart cities combines multiple digital tools such as location sensing, cloud computing and mobile connectivity.

McKinsey estimates that smart-mobility applications could create up to $70 billion in value and forecasts suggest that by 2023 the smart cities market will be a US$7.6 billion Telco opportunity for mobile service providers (MSP) and network vendors.

Despite the figures above, the real positive impact of smart cities cannot be measured in economic growth or market size; it is instead reflected in better quality of life, more effective public services and sustainable lifestyle.

It is all about connectivity. Smart cities are, above all, cities made for people. They are designed to address structural inefficiencies and prepare urban areas for future growth and coming generations.

Whilst different locations require specific measures, there seems to be a global move towards smart, sustainable development, supported by disruptive technology. The Asia-Pacific region tops the tables on smart city strategies, making up 42 percent of global investments in smart city technology initiatives.

India

One of the most populous countries in the world, UN data shows that by 2050, India will have 404 million more people in its cities.

Prime Minister Narendra Modi outlined his vision when he launched a strategy in 2015 to build 100 smart cities in the country. The initiative seeks to invest more than $15 billion over the next few years to build and implement efficient infrastructure and management solutions.

The initiative also aims to attract foreign investment and job opportunities to these locations, promoting them as manufacturing hubs in a forward-thinking country.

Among the projects in the strategy are affordable housing, integrated multi-modal transport, creation and preservation of open spaces, and waste and traffic management, among others.

Each of the selected cities will have a Smart City Centre (SCC), which functions as the city’s technology central system where digital technologies are integrated with social, physical, and environmental aspects of the city, to enable centralised monitoring and decision making.

In the SCC architecture, Internet of Things (IoT) devices such as sensors, GPS equipment and cameras located in open spaces collect and transmit data through a communication network to a central facility. Applications then convert the data and information received into insights to facilitate the decision support system. The SCC structure enables real-time monitoring and quick incident response management in city operations.

Even it is still early days in their Smart Cities mission, results are already visible. In Rajkot, the crime rate has reduced by 18% over the past two quarters. There has also been improvement in traffic, and the monitoring of cleaning work through CCTV camera has led to reduction in instances of littering, public urination, and night-time burning of rubbish.

With a third of the Indian population living in urban areas, the strategy is a way to better accommodate and improve the quality of life of big city inhabitants, making room for sustainable development.

Singapore

Few nations have understood the potential of technologies as agents of positive change as Singapore has. Singapore is the leading smart city in Asia and second in the worldwide ranking, just behind Copenhagen. The government launched its Smart Nation vision in 2014: “our vision is for Singapore to be a Smart Nation — a nation where people live meaningful and fulfilled lives, enabled seamlessly by technology, offering exciting opportunities for all.”

Impressive results have come from the smart transportation and mobility system which has been in place for more than 10 years. Using sensors to track buses, the data is used to identify problem areas and come up with effective solutions. Identifying where more buses were needed has already “resulted in a 90 percent reduction in crowdedness” and has reduced waiting times on popular services by three to five minutes.

The smart waste management program monitors attached on bin lids collect information on contents and location, with the information is transmitted to a waste management team through a central server. The waste collection team can then optimise route planning with the information provided by the sensors.

In the health sector, Singapore has implemented a central database, which helps doctors keep track of patients’ health records across hospitals, facilitating access to health services and patient record keeping.

As we welcome the fourth industrial revolution and let innovation keep on improving our lives, more systems are set to transform, bringing positive changes to society. Watch this space for more updates on technology projects in emerging markets. Subscribe to our FinancialFox YouTube channel for all the latest developments and news.