Opinion: The economic downturn in India has caused severe unemployment, and the encryption industry may become an economic booster.

According to Bitcoin.com, Rajiv Kumar, vice chairman of the Indian policy think tank Niti Aayog, said last week that “the Indian government has not faced a threat to the entire financial system in the past 70 years.” Nischal, CEO of Wazirx, the cryptocurrency exchange Shetty said employment growth is one of the main benefits of the encryption industry's ability to help the country's economic situation. Coinrecoil co-founder Kunal Barchha also shared the same feeling: "Indirectly, encryption technology can help create great applications that promote good business, promote the development of the entire IT industry in India, and add new jobs to the younger generation. Opportunity.” However, the Indian government is currently considering a draft bill prohibiting cryptocurrencies, which may have adverse economic consequences. At the same time, the Indian encryption community has already suffered a bank ban from the central bank.