Exclusive Part 2: Zebpay CEO talks about cryptocurrency adoption in India and the future of the field
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The world of cryptocurrencies has come under multiple scanners as well as regulations, forcing the field to pull it back a bit. Despite the setbacks, many proponents have come forward to support crypto and have spoken about the advantages of digital assets.
In an exclusive with AMBCrypto, Ajeet Khurana, the Chief Executive Officer of Zebpay gave his views on India’s cryptocurrency stance as well as the future use cases of cryptocurrencies. He was asked about the possibility of a clean sweep of the cryptocurrency market in India with the upcoming general elections to which he replied that a proper forecast is difficult and would be similar to “predicting Bitcoin’s price tomorrow’.
He added that on one level everything is possible while on the other hand, the different oars have to come together and synchronize, which is extremely difficult. Khurana added:
“In the long term, things will work out and India will adopt cryptocurrencies but like cloud computing, we will enter the market but a bit late.”
Khurana further touched upon the challenges in the long term as well as a possible “10-year challenge” for the cryptocurrency market. He said:
“I don’t think a 10-year challenge is feasible but rather a 3-5 year challenge would be more plausible. Back when it started there would have been like 1000 people in the field and now the number has multiplied manifold. I want to see the increase of people as an effect and not as a periodic rise and fall. Another positive development is that the number of people forecasting the demise of Bitcoin has gone down.”
Ajeet Khurana was also of the opinion that earlier the question was always about the value whereas now even the naysayers have toned it down. According to him, more people entering the space and the belief to co-exist has been the biggest clincher over the past few years. The Zebpay CEO also admitted that the fundamental problem with the space is that solutions take time to be implemented. In his words:
“The Lightning network, for example, will still take some time to come into fore, maybe in a year or so. But a lot of things have improved since 2012. Back then buying BTC was not the easiest thing to do whereas now it has become much easier.”
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Exclusive: John McAfee talks about his Presidential run, Federal Cryptocurrency, Calvin Ayre and more
In an exclusive interview with AMBCrypto, John McAfee, vocal cryptocurrency proponent, and former computer programmer, spoke about his upcoming presidential run, campaign promises that would affect the cryptocurrency world, the online Twitter battle with Calvin Ayre and more.
McAfee began by talking about the likelihood of mainstream politics embracing cryptocurrencies. He stated that it was not likely, saying that if any future U.S. Presidential candidate introduced a cryptocurrency, it would be federally regulated.
A candidate for the highest office in the United States, McAfee, does not have any real intentions of actually becoming the President. His main aim through his run is to promote decentralized currency and further its adoption.
Running on the Libertarian party ticket, McAfee stated that neither the Democratic nor the Republican party will ever truly embrace the notion of cryptocurrencies. He added that if they did, it would be for ‘Big Brother’ to track the activities of its users. McAfee’s advice to the virtual currency community was to use a privacy-centric cryptocurrency instead.
“Neither will fulky (fully) embrace it. Both will attempt to issue a Fedreral (Federal) Cryptocurrency that, i promise, will be a tracking mechanism for users. Just don’t usr (use) it. Use a privacy coin instead.”
The very essence of decentralized currency is to take away financial power from centralized authorities, and give it to the masses, he said. McAfee added that this would be ‘too much power’ to the people, which is why politicians are keeping their distance from virtual currencies.
His comments come days after Jay Clayton, the Chairman of the SEC, cited different reasons for the hesitation in granting a Bitcoin ETF. Clayton stated that the reason the SEC was on the fence about approving Bitcoin ETFs, was the market’s vulnerability to manipulation and high volatility of cryptocurrencies. His main intention was to protect investors, and if that was not sufficiently viable, there would be no publicly traded cryptocurrency.
McAfee had previously called Clayton a ‘m**h*r f*c*er,’ demanding a debate with the chairman. In June 2018, he asked his followers to send the chairman a “flood” of emails, calling for the debate. However, McAfee was unsuccessful in his effort.
His ill will for the SEC did not stop there. After the SEC indicted DJ Khaled and Floyd Mayweather in December 2018 for not disclosing payments received for promoting an ICO, McAfee called the regulatory authority a “corrupt, puss filled, bile dripping abscess.” He said,
When asked about Universal Basic Income [UBI] as a core campaign promise, and whether it could be mobilized through cryptocurrencies, McAfee said that he “did not believe” in UBI. A handout of a certain dollar value to every citizen in America did not follow the principle of the “Survival of the Fittest,” according to McAfee.
In his own words,
“I Don’t believe in Universal Basic Income. Life is, and always has been, a battle if the “Fittest.” People have to work, risk. experiment, attempt, suffer hardships, learn, accept, adapt. It can be no other way if our species is to survive.”
Many Presidential candidates have previously raised the notion of UBI, most notably Andrew Yang, the Founder of Venture for America, whose core campaign pledge is UBI. Yang, although an admirer of the blockchain technology, had previously said that cryptocurrencies “have gotten ahead of themselves.”
Back in November 2017, McAfee predicted that the top cryptocurrency would reach $1 million, by the close of 2020. McAfee had added that he would ‘eat his d**k,’ if the prediction did not materialize.
When asked if the May 2020 halving would affect his decision, he said,
“The halving will help my prediction.”
John McAfee had also spoken about Bitcoin Cash [BCH]. During the latter’s hardfork in November 2018, McAfee took the side of Roger Ver and Jihan Wu-backed Bitcoin Cash ABC, stating “You have my sword and my loyalty.” With respect to Craig Wright’s claim of being the real Satoshi Nakamoto, McAfee said,
“It’s utter nonsense.”
John McAfee also spoke about the terrible tragedy in Christchurch, and had this to say about the debate on gun laws,
“If everyone in the Mosques had been armed, the death toll would have been minimal. An armed society is the only safe society. And armed societies are the most polite in the world as we learned from the “wild west” period in America. Everyone was armed.”
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