Tim Draper: India will be the heyday of crypto startups

Blockchain critical startups will begin to return to India after a Supreme Court decision to lift restrictions on banks interacting with such companies, said Tim Draper, venture capitalist and founding partner of Draper Fisher Jurvetson (DFJ). He recently visited the country and held meetings with representatives of the market, after which he noted the interest of developers in new products. “I hope that I can finance a number of them,” said the venture capitalist.

It is worth noting that due to the repeated warning about the impossibility of cryptocurrency operations in India from the government and regulators, most of the leading investors decided to abandon investment in Indian startups. Now the situation is changing. For example, the Binance exchange, together with the Indian platform WazirX, opened a $ 50 million fund to support companies working with digital assets, OKEx entered into a partnership with the CoinDCX trading platform, and Kraken announced that it would soon serve traders from India.

“The Supreme Court of India and the country’s government have shown that the best ideas ultimately prevail, and this happened just in time, so the advantages of bitcoin and cryptography over existing systems will become apparent in this crisis time,” Tim Dreiper concluded.