FE CFO Awards 2020: India’s UPI is better for transactions than cryptocurrency

Cryptocurrencies could be acceptable in India as a store of value but they are not ideal for transactions as the country has much better alternatives, Infosys non-executive chairman Nandan Nilekani said at the FE CFO Awards 2020 on Tuesday.

While the US and Chinese digital economies have been centred around data monopolies, India’s digital infrastructure has laid the railroads for democratisation of services, he said.