Ex-Coinbase CTO Claims India Could Be Back-Up for USA ‘Till Crypto Scales’

Tue, 06/30/2020 - 12:54
Vladislav Sopov
Engineer and scientist Balaji Srinivasan has given a surprising statement on the possible benefits the Indian IT segment may reap from banning Chinese applications
Cover image via www.youtube.com

Yesterday on June 29, 2020, it was announced that the Indian government decided to restrict the use of Chinese mobile applications, including TikTok, Baidu, QQ and WeChat. Balaji Srinivasan claims this may have far-reaching implications for the local IT sector.

Tendencies of bans

According to Mr. Srinivasan, the Indian IT segment could grow its own ecosystem and compete with the U.S., China and Russia. He admitted that part of the nation’s population might use foreign applications due to the restrictions put in place by governments.

Image via Twitter

India is capable of building a clone of every application from the black-list. So, he highlights, ‘hundreds of teams in India have begun work’ on these alternatives right now.

The results of this progress would be useful even for the people outside of India. Mr. Srinivasan outlines that the Indian approach in this sphere is free of political prejudices and restrictions, unlike in China or Russia. So, U.S. citizens unsatisfied with American services could use Indian platforms.

However, the growth of decentralized technologies will put an end to these bans. So, Indian supremacy is possible, but it would only last ‘till crypto scales’.

Searching for good apps

That said, Balaji Srinivasan is treating India as a ‘black horse provider’, which is less subject to U.S. surveillance measures. It may allow India to fill the gap that the banning of Chinese apps has created.

Mr. Srinivasan also invited every development team to showcase the projects they are working on. He announced that he will analyze these products together with legendary investor Naval Ravikant.

Within the framework of their ‘India Stands App’ program, the devs are asked to send working prototypes while pitch decks are not allowed.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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