27 Dec 2013 / The Tech Panda – There has been a lot of buzz around Bitcoins of late with the new-age currency gradually gaining popularity across the world. For those who haven’t heard of this new-age currency, a Bitcoin is an all-digital, cryptographically-made currency. Bitcoins are generated or “mined” by computers that solve complicated mathematical problems and algorithms on the Bitcoin network. The work and the complexity of the puzzles decide the value and the availability of Bitcoins in the network. The entire Bitcoin network or ecosystem is made up of miners, exchanges, speculators, consumers and merchants.
A few pioneers and early adopters of the Bitcoin trend in India have been doing some interesting work. This is what they had to say about the opportunities that have opened up to start-ups and entrepreneurs, the challenges that they face and the future of Bitcoins in India.
Opportunities
Mahin Gupta, CTO of Ahmedabad-based BuySellBitco.in, India’s first and most trusted Bitcoin trading platform says – “It is a very new market at the moment and an emerging one too. There are some awesome markets and business opportunities waiting, the major ones being exchange operations, payment processors, wallet services, money transfers and micro payments. On top of that we can see that if Bitcoin gains traction, services around computer and wallet security, hardware designed for Bitcoin wallets (both computers and other hand-held devices), Bitcoin education or awareness programs, business consultancy can be sectors where one can expect good opportunities.”…… Read more
http://thetechpanda.com/bitcoins-opportunities-challenges-indian-startups/#.Ur2VRLTMv3V
